Magic Johnson Expands His Business Empire

The initiative includes a marketing agreement and the formation of SodexhoMagic, LLC -- a new joint venture that is 51 percent owned by Johnson.

"I am excited about this opportunity to work with Sodexho," said Johnson. "Sodexho is the undisputed world-class leader in food service management. I am looking forward to working closely with the Sodexho team and will be personally involved in the process as we grow the SodexhoMagic business."

The SodexhoMagic, LLC will develop new business opportunities and operate select Sodexho accounts at various locations throughout the U.S. and will provide total management of food services, including dining and high-end catering service, grounds keeping, plant operations and maintenance, asset management, environmental services and laundry services. The ten-year agreement also allows for the development of 'Magic Johnson' concepts to be at select Sodexho accounts including college campuses, hospitals and healthcare facilities and corporate locations.

"Earvin 'Magic' Johnson has one of the most recognizable names in the world, in business as well as in sports," said Richard Macedonia, president and CEO of Sodexho, Inc. "He is a genius at applying his business acumen toward creating a demand for services and products, which shows in the success he's had in the retail food industry through his partnerships with other well-known companies. I am so pleased that Magic Johnson's competitive spirit is working on behalf of Sodexho, enabling us to grow our business and strengthen our brand."

Johnson, is CEO of Magic Johnson Enterprises is the hub of his business empire and steers the direction of the brand for business development and expansion. The company handles asset acquisitions, endorsements, licensing, personal appearances, multi-cultural marketing and business to business relationships. Magic Johnson Enterprises specializes in urban business development with a variety of business ventures. Johnson Development and Magic Johnson Enterprises, has lucrative links with Starbucks, Burger King, TGI Friday's, Loews Cineplex and 24 Hour Fitness.