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Thread: Panini Heritage? Panini Finest? Topps for sale

  1. #1
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    Panini Heritage? Panini Finest? Topps for sale

    The private equity owners of*Topps Co.*are weighing a sale of the*baseball card maker, people with knowledge of the matter said.

    Madison Dearborn Partners*and*Tornante Co., the private investment firm of former*Walt Disney Co.*Chief Executive Officer Michael Eisner, are speaking with bankers about strategic options for the company, said the people, who asked not to be identified because they weren’t authorized to speak publicly.

    The most likely option to be pursued is splitting the company’s card and candy businesses, with the latter, which contributes most of its $40 million of earnings before interest, taxes, depreciation and amortization, being sold first, the people said. The total value of the company is about $400 million, the people said. A final decision hasn’t been made and the groups could elect to keep the business.

    A spokesman for Madison Dearborn declined to comment. A representative of New York-based Topps didn’t immediately respond to a request for comment.*A Tornante representative said, “We don’t comment on rumors or speculation.”

    Topps, founded in 1938 and famous for selling bubble gum with the collectible trading cards that have filled countless shoe boxes, was*taken private*by the two companies in a 2007 deal valued at $385 million. The transaction followed an activist campaign by shareholders Pembridge Capital Management and Crescendo Partners, which had pushed the company to explore a sale.

    The Topps card division focuses on sports including*Major League Baseball*and the English Premier League. It also makes products for entertainment companies such as Disney. The company’s confectionery brands include Bazooka bubble gum, Ring Pop, Push Pop, Baby Bottle Pop and Juicy Drop Pop lollipops, according to Tornante’s website.

    Before it's here, it's on the Bloomberg Terminal.*

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    Senior Member Brewer Andy's Avatar
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    Well....it might not be news at all but it ain’t bad news and it could be whatever or possibly even great news


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    Administrator cgilmo's Avatar
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     fcbsportscards
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    someone launch the go fund me
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    Member KLARNOLD's Avatar
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    That is one way for Panini to get a MLB license...buy the competitor that has a MLB license.

  5. #5
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    Maybe, depends on how the contracts read. For instance, when Sirius satellite radio got Howard Stern, XM was a separate company. Eventually, Sirius bought or merged with XM. But XM customers didn't get Howard, they had to buy new radios or resubscribe or something. When I bought my new car a couple years ago, I got a free 1-year subscription to SiriusXM, and got Howard. When the year was up, I bought the subscription, but Howard was "unavailable on XM radios." I was told I could add Howard to my subscription for a few extra dollars a month, but I'd have to stream it through the SiriusXM app using my phone's data via bluetooth to the car radio. When I told them that was ridiculous, they said I could buy a Sirius radio and have it installed, then resubscribe to Sirius. Somehow, they were prevented from just sending Howard to my car using the same signal I had during the complimentary period.

    Anyway, Panini buying Topps might not necessarily mean Panini gets to use logos on their brands. Probably, but who knows. I would also be excited for the return of Topps Chrome to football and basketball. Just need to work on UD with their NHL license.
    Looking for 2011 Topps Marquee Museum autographs, rare Frank Thomases and Grady Sizemores I don't have

  6. #6
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    It'd be interesting to see if there is any interest as it would clearly be a brag buy instead of an investment because who would want to own a company that hasn't grown much in value (if you believe the reports) since being taken private? With supposedly slim margins, it'd be more of a "hey, I own Topps!" brag.

    If I had $400M burning a hole in my pockets, I think I'd try to get 1/3 to 1/4 ownership of a professional sports club with a huge potential for wealth growth before buying a company with slim margins where it won't take much with increased expenses to put it in the red.

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