Fleer

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The Fleer Corporation, founded by Frank H. Fleer in 1885, was the first company to successfully manufacture bubble gum; it remained a family-owned enterprise until 1989. Fleer originally developed a bubble gum formulation called Blibber-Blubber in 1906. While this gum could be blown into bubbles, in other respects it was vastly inferior to regular chewing gum, and Blibber-Blubber was never marketed to the public. In 1928, Fleer employee Walter Diemer improved the Blibber-Blubber formulation to produce the first commercially successful bubble gum, Dubble Bubble. Its pink color set a tradition for nearly all bubble gums to follow. Fleer became known as a maker of sports cards, starting in 1923 with the production of baseball cards. Fleer also released American football (1960) and basketball (1986) card sets through its history. The company also produced some non-sports trading cards. In 1995, Fleer merged with the trading card company SkyBox International and, over Thanksgiving vacation shuttered its Philadelphia plant (where Dubble Bubble had been made for 67 years). In 1998, 70-year-old Dubble Bubble was acquired by Canadian company Concord Confections; Concord, in turn, was acquired by Chicago-based Tootsie Roll Industries in 2004. In late May 2005, news circulated that Fleer was suspending its trading card operations immediately. By early July, in a move similar to declaring bankruptcy, the company began to liquidate its assets to repay creditors. The move included the auction of the Fleer trade name, as well as other holdings. Competitor Upper Deck won the Fleer name, as well as their die cast toy business, at a price of $6.1 million. Just one year earlier, Upper Deck tendered an offer of $25 million, which was rejected by Fleer based on the hope that the sports card market would turn in a direction more favorable to their licenses and target collector demographic....