Fanatics Buys Topps Trading Card Business for $500 Million

Fanatics Inc. has acquired the trading card division of Topps Co., swallowing up its rival only months after luring away its longtime client Major League Baseball.

Topps, co-owned by former Walt Disney Co. boss Michael Eisner, is selling its cards and entertainment division but will keep other businesses such as candy and gift cards. About 350 Topps employees will join Fanatics as part of the arrangement, with its top executives remaining in charge of Topps within the Fanatics trading card business, the companies said in a statement on Tuesday.

Terms of the agreement weren’t disclosed. A person familiar ...