Magic Johnson Buys Into Pepsi Facility: Pepsi-Cola...
From Times Staff and Wire Reports
Magic Johnson Buys Into Pepsi Facility: Pepsi-Cola Co. said it sold a controlling interest of its Washington bottling operation to Los Angeles Lakers basketball star Earvin (Magic) Johnson and Earl Graves, who publishes the New York-based magazine Black Enterprise. The deal made the Washington plant the largest minority owned and operated Pepsi facility in the country. The $60-million sale followed almost three years of negotiations, officials said.