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Rubin: Topps acquisition just latest step in Fanatics' master plan

Fanatics CEO Michael Rubin this morning discussed the company's acquisition of Topps, noting Fanatics is "always thinking about how can we reinvent a business that's going to be better for all the constituencies involved." Rubin said Fanatics will “buy different pieces of the business because we think that’s a way to get to scale and bring in pieces that we need more quickly,” and that is “exactly what we did right here.” Fanatics saw Topps as the “best brand in trading cards.” Rubin: “The brand on trading cards is absolutely going to be Topps. Topps is the best brand in trading cards.” Fanatics wants to “have the continuity of the Topps brands,” and it "paid a price that they were happy with, that we were happy with.” Rubin: “The card business has grown a lot by luck, not by a strategy to really grow the business. The No. 1 thing that I wake up and go to bed thinking about is how can we demonstratively grow this industry. I'd like it to be many, many times the size of the business that it is today” (“Squawk Box,” CNBC, 1/5).

 

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