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Assets were sold and Roy C. Megargel bought the Pepsi trademark. Eight years later, the company went bankrupt again. Pepsi’s assets were then purchased by Charles Guth, the President of Loft Inc. Loft was a candy manufacturer with retail stores that contained soda fountains. He sought to replace Coca-cola at his stores, fountains after Coke refused to give him a discount on syrup. Guth then had Loft’s chemists reformulate the Pepsi-Cola syrup formula.
In 1940s, Walter Mack was the new President of Pepsi-Cola and guided the company. Mark, who supported progressive caused, noticed that the company’s strategy of using advertising for a general audience either ignored African Americans or used ethnic stereotypes in portraying blacks...
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