Campbell Soup to invest $50m to enhance Camden facilities
Campbell Soup is planning to invest around $50 million over the next three years, to consolidate its snacks offices in Charlotte, North Carolina, and Norwalk, Connecticut, into its headquarters in Camden, New Jersey.
The proposed consolidation is expected to help the US food processing company realize cost savings starting in the financial year 2024 and reach $10 million a year in cost savings by the financial year 2026.
Campbell Soup plans to partly reinvest the saving in the business to increase the snacks division margins.
Mark Clouse — Campbell Soup President and CEO said: “We remain committed to our two-division operating model and are confident that being together in one headquarters is the best way for us to continue building a culture that unlocks our full growth potential.
“This investment will ensure Campbell remains a great place to work and a compelling destination for top talent.”
Anticipated to start in March 2023, the project involves upgrading existing space and constructing a new campus center, a snacks research and development center, and pilot facility.
The project also plans to improve workspaces, meeting and multi-purpose rooms, and communal spaces, besides on-site day care, a café, and health and fitness center.
Campbell Soup will close Charlotte and Norwalk offices and will relocate their team members to Camden in phases beginning mid-2023.
However, the US food processing company will continue to operate its Pepperidge Farm bakery in Bloomfield in Connecticut as well as manufacturing and distribution facilities in Pineville and Maxton, North Carolina.
Mark Clouse further said: “We have a long history in Connecticut and North Carolina and will continue to have key operations in both states.
“Unifying the company in one headquarters increases connectivity, collaboration and provides enhanced career opportunities for our team.”
In 2010, Campbell Soup last expanded and renovated its campus with an investment of around $132 million.