In 1990 Graves teamed up with former Los Angeles Lakers basketball star Earvin “Magic” Johnson to purchase the rights to Pepsi-Cola’s Washington, D.C. distribution operations. He is chairman and chief executive officer of that enterprise and is also a general partner of Egoli Partners, L.P., which owns the Pepsi-Cola franchise in South Africa. In 1990, the franchise distributed over 4 million cases of Pepsi annually in the District of Columbia and parts of Maryland, and has been estimated to be worth about $60 million. At the time, Graves and Johnson were Pepsi’s largest minority franchisees.

Source: Graves, Earl G. – Overview, Personal Life, Career Details, Social and Economic Impact, Chronology: Earl G. Graves – Black, Business, Enterprise, and Magazine – JRank Articles