New Agreement Encompasses Total of 30 BURGER KING(R) Restaurants
MIAMI, June 7 /PRNewswire/ -- Burger King Corporation and an affiliate of
Magic Johnson Enterprises today announced that the two companies have executed
a multi-year agreement in which basketball legend Earvin "Magic" Johnson's
company becomes the newest BURGER KING(R) franchisee with a total of 30
restaurants in Atlanta, Birmingham, Dallas and Miami. Terms of the agreement,
effective July 1, were not disclosed.
(Logo: http://www.newscom.com/cgi-bin/prnh/20031014/BKLOGO )
In Atlanta, there will be five restaurants covered by this agreement; in
Birmingham, eight; in Dallas, 14; and in Miami, three.
Executives from both companies indicated that this new agreement provides
another example of the company's growing momentum and underscores the
company's commitment to growing its African-American franchisee base.
"Magic Johnson is a proven entrepreneur in the areas of urban development,
job creation and operations excellence," said Brad Blum, chief executive
officer of Burger King Corporation. "What's more, he knows us, he knows our
Guests and our employees and how to motivate them to achieve their full
potential. I found Magic to be inspirational and I knew I wanted to work with
him to help us intensify our focus on developing the retail environment within
urban markets as we continue building momentum for the BURGER KING(R) brand."
"We believe that increasing our focus on existing minority-owned
franchisees as well as developing more minority-owned franchises is a
significant benefit for the BURGER KING(R) system, and in addition, healthy
franchisees help build wealth and expand job opportunities within urban
communities," said Blum.
"In getting to know Brad and the other Burger King Corporate executives,
I've come to appreciate their respect for people, their core values and their
high standards, and I'm pleased and proud to be associated with this company
as it continues to build momentum," said Earvin "Magic" Johnson, chairman of
Magic Johnson Enterprises. "With these restaurants, we expect that as time
passes, new jobs will be created and relationships with minority contractors
will be strengthened in these four important cities."
Johnson is universally known for his 13-year career in the National
Basketball Association, where he led the Lakers to nine appearances in the NBA
Finals and five championships. He has redefined himself as a businessman
focused on providing quality entertainment and services with such ventures as
Magic Johnson Theatres, Starbucks, Magic Johnson 24-Hour Fitness Clubs, Magic
Johnson Productions, Magic Johnson Music and now BURGER KING(R) restaurants.
"Magic Johnson has the know-how and the resources to operate restaurants
that can become an integral part of each local community by providing quality
food and service and also by providing programs that give back to the Guests
in the cities in which we serve," said Clyde Rucker, senior vice president,
diversity, Burger King Corporation. "Magic's business ventures have helped
revitalize neglected communities, and we are confident that his phenomenal
track record will translate into positive experiences for our Guests, our
employees and our vendor partners."
About Magic Johnson's Business and Charitable Interests
Earvin "Magic" Johnson is chief executive officer of Magic Johnson
Enterprises, which includes Magic Johnson Development, Magic Johnson
Entertainment, Magic Johnson Music and Magic Johnson Productions. Magic
Johnson Development Corporation fosters local growth and financial empowerment
in long-neglected urban and sub-urban neighborhoods. Magic Johnson
Entertainment is a multimedia company comprised of film, television,
publishing and animation divisions. Magic Johnson Music includes a fully
functional record label distributed by MCA. The new label signed and released
its first recording artist, Avant, whose album went platinum. Magic Johnson
Productions (MJP) works to bring quality entertainment to millions of fans
worldwide by promoting special events and tours.
Johnson is also Chairman and Founder of the Magic Johnson Foundation
(MJF). The non-profit entity addresses critical issues of health, educational
and social needs of inner-city youth. Additionally, MJF empowers minority
communities through advancing and supporting worthy charitable organizations.
About Burger King Corporation
Our vision: We proudly serve the best burgers in the business, plus a
variety of real, authentic foods ... all freshly prepared ... just the way you
want it.
The BURGER KING(R) system operates more than 11,220 restaurants in all 50
states and in 60 countries and territories around the world. Ninety-one
percent of BURGER KING restaurants are owned and operated by independent
franchisees, many of them family-owned operations that have been in business
for decades.
Burger King Holdings, Inc., the parent company, is private and
independently owned by an equity sponsor group comprised of Texas Pacific
Group, Bain Capital and Goldman Sachs Capital Partners. In fiscal year ending
June 30, 2003, Burger King Corporation had system-wide sales of $11.1 billion.
To learn more about BURGER KING(R), please visit the company's website at
http://www.burgerking.com.
SOURCE Burger King Corporation
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Related links:
http://www.burgerking.com
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NewsCom:
http://www.newscom.com/cgi-bin/prnh/20031014/BKLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
Company News On-Call:
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CONTACT:
Blake Lewis, Burger King Corporation,
+1-305-378-7277, or blewis@whopper.com
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