History
The story of the Franklin Baker Company begins in 1897 in Philadelphia, Pa., when Franklin Baker, a flour miller, saw the enormous potential of desiccated (pre-processed) coconuts in the U.S. market. Looking for a primary source of coconuts, he came to the Philippines. In 1921, he and his son, Franklin Baker Jr., put up plant facilities in Santa Mesa, Manila. In 1927, General Foods Corporation acquired the company. Plant facilities were transferred to San Pablo, Laguna, where coconut plantations were abundant. In 1968, General Foods put up another plant for Franklin Baker in Davao to ensure steady coconut supply for all its local and international customers.
In 1987, Philip Morris, owners of General Foods, bought Kraft. The Franklin Baker desiccated coconut products were put into the Kraft Food Ingredients Group. The Franklin Baker desiccated coconut products were branded as Baker’s. In 2004, Kraft, realizing that coconut products were not totally aligned with its core businesses, decided to sell the Franklin Baker industrial product lines. Out of the many companies that put in their bids, Kraft selected Andorra Investments Corporation.
Today, the legacy of Mr. Franklin Baker, Sr., originally begun in 1897, continues.
Andorra Ventures Corporation is an investment company that was set up in 2005. It was established primarily to manage the annual US$100,000 Robert V. Chandran Venture Capital Award. This Award is a five-year commitment beginning in 2005 to provide angel capital financing up to US$100,000 to deserving business ventures of MBA students of the Asian Institute of Management.
In addition to managing the award, Andorra Ventures Corp. serves as the vehicle for Philippine investments for Andorra Services Limited, Hong Kong, which is into shipping and shipping-related businesses. Andorra Ventures Corp. is also affiliated, through Mr. Chandran, with the Chemoil Group of Companies, the world’s largest independent bunker fuel supplier, with diversified interests in oil trading, shipping and oil terminals in the United States, Panama, Monaco, Rotterdam, Antwerp, and Singapore.
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