CAMDEN, NJ. — Campbell Soup Co. is planning to invest $50 million into its headquarters in Camden while consolidating its Snacks division offices located in Charlotte, NC, and Norwalk, Conn.
The investment, made over the course of the next three years, will be used to accommodate the more than 1,600 employees located on the Camden campus following the closings. No commercial roles will be eliminated as part of the consolidation, and Campbell Soup expects to realize $10 million in annual cost savings from the decision by 2026.
“We are thrilled to invest in our people, our facilities and our Camden community, which Campbell has called home for more than 150 years,” said Mark Clouse, president and chief executive officer of Campbell Soup. “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.”
The first major investment in the Camden campus since a $132 million injection in 2010, plans for development include upgrades to existing spaces and the addition of new facilities, including a new campus center and a Snacks R&D center with an accompanying pilot plant. Enhanced, adaptable workspaces, communal spaces and meeting and multi-purpose rooms also will be a focal point, alongside amenities such as on-site day care, a health and fitness center and a cafe.
Campbell Soup said the office closings will not impact the company’s other operations in North Carolina and Connecticut, including a key manufacturing and distribution center in Pineville, NC, a manufacturing site in Maxton, NC, and a Pepperidge Farm bakery in Bloomfield, Conn.“We have a long history in Connecticut and North Carolina and will continue to have key operations in both states,” Mr. Clouse said. “The decision to close these offices was difficult but it is the right thing to do for our business and culture. Unifying the company in one headquarters increases connectivity, collaboration and provides enhanced career opportunities for our team.”