Tornante Company and Madison Dearborn Partners Sell TDS Gift Cards to Ziff Davis
Michael D. Eisner's Tornante Company and Madison Dearborn Partners ("MDP") today announced that they have sold TDS Gift Cards to Ziff Davis (Nasdaq: ZD) in an all-cash transaction. The sale marks the last piece of the former Topps companies portfolio, which was owned by Tornante Company and funds affiliated with MDP, to be sold, and ends a partnership that began in 2007.
The portfolio also included the iconic Topps trading cards and collectibles business, which was sold to Fanatics in December 2021, and Bazooka Candy Brands, maker of beloved products such as Ring Pop, Push Pop, Baby Bottle Pop and Bazooka Bubble Gum, which was sold to funds advised by Apax Partners this past October.
"After previously selling Topps and Bazooka Candy Brands, this is the culmination of a wonderful and gratifying partnership with Jim Perry, Scott Pasquini and the entire MDP team," said Eisner. "This all started with reading an article about Topps back in 2007 that sparked our interest in the company. That curiosity about this iconic brand was shared with our friends at MDP, which resulted in the purchase and many subsequent years of innovation, growth and excitement."
"Under the leadership of talented executives like Andy Redman, the president of Tornante, and Michael Brandstaedter, the CEO of the former Topps portfolio of companies, we expanded territories, launched new products, brought collectibles ? and candy! ? into the digital age and had great fun doing it," said Eisner.
MDP Managing Director Scott Pasquini added: "It has been a pleasure working alongside our friends at Tornante and the former Topps companies group to execute unique growth and digital transformation strategies that supported the evolution of the entire portfolio. We look forward to watching all of the businesses continue to thrive with their respective new owners."
ABOUT THE TORNANTE COMPANY
Founded in 2005 by Michael D. Eisner, The Tornante Company is a privately held company that invests in, acquires, and operates companies in media and entertainment.
ABOUT MADISON DEARBORN PARTNERS
Madison Dearborn Partners, LLC is a leading private equity investment firm based in Chicago. Since MDP's formation in 1992, the firm has raised aggregate capital of more than $31 billion and has completed over 160 platform investments. MDP invests across four dedicated industry verticals, including basic industries; financial services; health care; and technology & government. For more information, please visit www.mdcp.com.
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