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PepsiCo to Sell Drinks at Graceland

June 10, 1998|Bloomberg News

PepsiCo Inc. said it signed an agreement making Pepsi and other PepsiCo drinks the only ones to be sold at Graceland, the former Memphis, Tenn., home of Elvis Presley. It bumps Atlanta-based Coca-Cola Co., for 15 years the sole soft drink supplier at the tourist spot that attracts about 700,000 people a year. Terms of the multiyear agreement were not disclosed. Purchase, N.Y.-based Pepsi is becoming more aggressive in courting attractions, sports venues and restaurant chains to build its U.S. business. In New York Stock Exchange trading, PepsiCo shares rose 63 cents to close at $42; Coca-Cola shares gained 56 cents to close at $81.25.

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