Business Venture Division
The business ventures department of Magic Johnson Enterprises creates strategic partnerships that increase the quality of life for ethnically diverse, urban communities through a myriad of efforts including providing entertainment, products and services. As such, we are committed to:
- Operating first run businesses and services in underserved communities throughout the United States
- Economically stimulating these communities by creating jobs, hiring local contractors and promoting internal growth and development
- Providing quality and convenience to the members of these communities and develop a mutually beneficial relationship
Business Venture Partners Include:
Magic Workforce Solutions – An independent venture that will provide staffing solutions and career services to qualified residents residing in underserved communities. Magic Workforce Solutions will provide testing, training and job placement for local residents with respectable companies with the goal of establishing long term employment and business relationships.
SodexoMagic – Sodexo, the leading food and facilities management services company in North America and Magic Johnson Enterprises teamed up to provide unparalled services for clients and customers in 2006. Services include catering and food distribution, environmental maintenance, linen upkeep as well as plant operations and maintenance. SodexoMagic provides flexible, innovative, and customized solutions and an unrivaled, broad consumer appeal.
Urban Coffee Opportunities/Starbucks – Urban Coffee Opportunities represents the only partnership of its kind that Starbucks has entered into in the United States. This innovative venture, launched in February 1998, combines the retail strength of Starbucks with Magic Johnson Enterprise’s knowledge of underserved communities in key metropolitan cities. Together, Magic Johnson Enterprises and Starbucks strive to enthusiastically satisfy customers while contributing to community development and the environment. The jointly owned stores have become the social centers in their communities.
T.G.I.Friday’s – Carlson Restaurants Worldwide Inc., the global leader in the casual dining industry, entered into a partnership agreement with Magic Johnson Enterprises to develop a Magic Johnson’s T.G.I. Friday’s restaurant in 1998. This joint venture is designed to bring jobs, vitality, quality entertainment and casual dining options to the Ladera, California community by combining Friday's famous heritage with Mr. Johnson's vision for reinventing urban commercial districts.
24 Hour Fitness – Mr. Johnson has been an advocate of fitness and healthy living for years. When the opportunity arose to combine his advocacy and marketing skills with one of America’s most exciting health club enterprises, he jumped at the chance to develop the 24 Hour Fitness Magic Johnson Sport clubs. The fitness centers are based in many of the markets where Magic Johnson Enterprises has an established presence with other ventures. The synergy created from these multiple enterprises exponentially expands the brand impact and has proven to be a winning combination.
Capital Management
Our capital management division offers a range of financial investment management services that focus on investing in retail, housing and businesses that facilitate growth in urban communities, including a newly established small business private equity fund, Yucaipa-Johnson Corporate Initiatives Growth Fund. Additionally, through the Canyon-Johnson Urban Fund, the country’s largest private equity real estate fund focused solely on the revitalization of ethnically diverse communities, we have nearly $1 billion in committed capital. The first Canyon-Johnson fund financed $1.25 billion of development around the country.
The capital management division has a strong nationwide presence, credible track record and social presence:
- Strong IRR on investments
- Generated significant incremental tax revenues for the communities in which it has invested
- Solid network of city and state government relationships
- Constructed/repositioned over 2 million sq ft. of community-serving retail
- Generated over 11,000 construction jobs and 5,000 permanent jobs
- $2 billion of environmentally responsible investments
Capital Management Entities:
Yucaipa-Johnson Corporate Initiatives Growth Fund (YJCIGF) - Established in 2007, YJCIGF’s mission is to become the country’s premiere private equity growth fund focused on strategic investments in companies located in and/or serving America’s urban markets. YJCIGF will leverage the significant, proven and complementary strengths of the Yucaipa Companies and Johnson Capital Management for the benefit of investors and portfolio companies. These strengths include: proprietary transaction origination, corporate partnering expertise, urban corporate strategy execution, prudent deal underwriting, strong investment returns, active and expert portfolio management.
Canyon-Johnson Urban Funds (CJUF) - The Canyon-Johnson Urban Funds are one of the country’s largest private real estate funds focused solely on the development of urban properties in underserved neighborhoods. CJUF was formed to identify, enhance and capture value through the development and redevelopment of real estate in densely populated, ethnically diverse urban communities. CJUF’s objectives are to seek current income and capital appreciation, and in addition to meeting their investment goals. Since inception, Canyon Johnson Urban funds have facilitated more than 2 billion in development around the country.
Canyon-Johnson Urban Communities Fund - Canyon-Johnson has recently launched a new initiative, the Canyon-Johnson Urban Communities Fund. The new fund focuses on acquiring, improving and greening residential rental and mixed-use properties in urban communities across America. Responding to the growing need for quality workforce rental housing in cities throughout the nation, the Urban Communities Fund will invest more than $2 billion to acquire upwards of 10,000 existing residential rental units in major U.S. markets with the goal of upgrading them, adding amenities, improving management, and providing residents with a secure, high quality brand of urban living.
Consulting & Licensing
Our consulting & licensing department utilizes the name, likeness, images and personal appearances of the Magic Johnson Brand.
Consulting & Licensing Relationships:
Aetna – In January 2008, Aetna and Magic Johnson Enterprises formed a new partnership designed to empower businesses and ethnically diverse communities to make informed choices about their health care options by improving health care literacy, showing them the benefits of wellness, exercise and healthy eating, and other initiatives. Learn more at http://www.communityvitality.com.
Best Buy – Magic Johnson Enterprises entered into a multi-year relationship with Best Buy Co., Inc in February 2008. Through this strategic relationship, the consumer electronics retail giant hopes to strengthen its urban market presence and deepen relationships with multicultural customers. The alliance is another example of Magic Johnson Enterprises commitment to working with major corporations to bring first-rate products and services to key communities.
Abbott – Abbott and the Magic Johnson Enterprises joined forces to address the alarming rise of HIV/AIDS in the African-American community. Through this for and non profit partnership, Earvin “Magic” Johnson and Abbott hold educational activities and testing events in cities with high HIV infection rates. In 2006, the initiative embarked on a 10-city tour of high schools and counseling centers across the nation to provide HIV testing, education and additional resources for HIV-positive individuals. In 2007, the campaign visited almost 200 churches, high schools and colleges. For more information and to “stand with Magic” in the fight against HIV/AIDS, visit http://www.istandwithmagic.com.
AMC Magic Johnson Theaters – In 1994, Magic Johnson Enterprises formed a partnership with the then Sony Entertainment motion picture exhibition group. A subsequent merger created Loews Cineplex Entertainment and, in January of 2006, Loews merged with AMC Entertainment Inc., forming one company under the AMC name. This merger brought together two of the oldest and most respected names in the theatrical business with a combined operating history of more than 185 years. As a result of this historic merger, Magic Johnson Enterprises is now proud to be a partner with AMC Entertainment Inc. The combined mission of this partnership is to provide guests with the best possible out-of-home entertainment experience.
Speaking Engagements – Mr. Johnson and the executive team at Magic Johnson Enterprises provide educational and motivational services to corporations, foundations, academic institutions, political organizations and more. For more than 15 years, the executive team has provided key note addresses or spoken to audiences on behalf of urban development/investment, personal and professional empowerment, health / fitness and more. Magic Johnson Enterprises engages in over 100 speaking engagements annually nationally and abroad. Most recently, Mr. Johnson was recognized as the number one rated athlete for corporate endorsements by the TSE Sports & Entertainment Survey in April 2007.