Former Disney CEO Michael Eisner’s The Tornante Company and Madison Dearborn Partners have made an offer to purchase Topps Trading Card Company for roughly US$385.4 million.
Topps’ board of directors has recommended that its stock holders accept the offer, which comes in at about US$9.75 per share.
Best known for its Major League Baseball cards, Topps also manufactures sticker album collections, TCGs and card lines based on Star Wars, Lord of the Rings and Batman licenses. On the confectionary side of its business, the 69-year-old company’s brands include Garbage Pail Kids and Bazooka Joe bubble gum.
The deal still has to be approved by stockholders, as well as clearing regulatory and legal red tape. It’s expected to close by Q3. The Tornante Company currently owns Team Baby Entertainment, as well as a controlling a stake in internet broadcaster Veoh Network.