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Legacy Corporate Lending Provides $10MM Credit Facility to Franklin Baker

August 02, 2023, 07:56 AM
Filed Under: Food Services

Legacy Corporate Lending completed a $10 million asset-based revolving line of credit for Franklin Baker Incorporated (“Franklin Baker”). The facility will be used to support the company’s ongoing working capital needs and continued growth.

Founded in 1895 in Philadelphia and with current North American operations based in Memphis, TN, Franklin Baker is the leading supplier of coconut products and ingredients to the global food market, accounting for nearly 50% of total Philippine coconut imports to the U.S.  Franklin Baker’s products are shipped from its parent’s three manufacturing facilities in the Philippines to more than 50 countries worldwide across the U.S., South America, Europe, Middle East, Africa and Asia Pacific.  

“We are delighted to be able to provide Franklin Baker with a credit facility tailored to meet their needs,” said Clark Griffith, CEO of Legacy Corporate Lending.  “We were impressed with Franklin Baker’s long and respected history both in the Philippines and the United States as well as the Company’s exceptional management team.  We believe the business is well-positioned for its next phase of growth.”

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