Topps, which is best known for its baseball cards and Bazooka candy line, has agreed to go public through a merger with Mudrick Capital Acquisition Corporation II, a special purpose acquisition company, that values Topps at $1.3 billion.
Former Disney CEO Michael Eisner will stay on as Topps’ chairman. Mudrick Capital and funds and accounts managed by Gamco Investors and Wells Capital Management are expected to invest an additional $250 million in the SPAC. Private equity firm Madison Dearborn Partners intends to sell most of its ownership in Topps, but Eisner’s firm The Tornante Company will roll its entire equity stake into the new combined company.
The deal is expected to close in the…