Topps was founded in 1938 by four brothers named Topps: Joseph (“Yosse”), Abraham (“Abba”), Izzy, and Harold. The brothers developed innovative packaging and merchandising for their chewing gum products and trading cards. Topps’ most popular early product was its gum with baseball cards included in the wrapper. In 1952, Topps obtained the exclusive rights to produce baseball cards featuring active Major League Baseball players, giving it a monopoly that would last decades. Over the following years, Topps expanded its offerings to include other sports leagues and pop culture properties.
For much of the 20th century, Topps dominated the sports and non-sports trading card industry in America and around the world. In recent decades Topps has faced increasing competition from other card companies like Panini and Upper Deck. These competitors obtained licenses for other major sports leagues, cutting into Topps’ market share. In the 1990s, MLB also withdrew Topps’ exclusive license and began allowing other companies to produce baseball cards as well. Nevertheless, Topps remains the top brand in the industry thanks to its extensive library of licenses and iconic baseball card history.
In 1992, Topps went public and began trading on NASDAQ under the ticker symbol “TOPP”. The company struggled financially in the late 1990s and 2000s due to rising production costs, decreased card collecting among children, and the loss of its MLB monopoly. In 2007, Topps was taken private in a leveraged buyout by Michael Eisner’s The Tornante Company and Madison Dearborn Partners.
Under Eisner’s leadership as Chairman, Topps reorganized its business around strategic acquisitions and a digital strategy. In addition to acquiring competitors like Bazooka Candy Brands and the Jelly Belly Candy Company, Topps launched online gaming platforms and apps related to its sports cards. Topps BUNT and Topps NOW allow users to collect and trade virtual versions of Topps cards across mobile devices.
In October 2020, Mudrick Capital Acquisition Corporation, a special purpose acquisition company, agreed to merge with Topps in a deal that valued Topps at $1.3 billion. Upon completing the transaction in 2021, Topps’ stock moved from NASDAQ to the NASDAQ Global Select Market under the ticker “TOPP”. Under the current ownership and leadership, Topps aims to leverage its vast catalog of intellectual property rights and expand further into digital platforms, apps, collectibles, and e-commerce. While facing challenges from rivals, Topps remains the iconic leader in sports and entertainment cards globally thanks to over 80 years of brand recognition and its pioneering role in cardmaking history.
Today Topps is incorporated as Topps Company, Inc. and is headquartered in New York City. Michael Eisner, via The Tornante Company, remains Chairman of Topps, and Michael Brandstaedter serves as CEO. Topps continues to produce its storied baseball cards while expanding its offerings across other sports like football, soccer, and hockey. Topps’ world-renowned trading cards, along with its confectionery products and digital platforms, cement its legacy as an American entertainment institution and leader in the sports collectibles industry.
