Campbell Soup Company is consolidating its snacks division by investing a total of US$50 million in its offices in Charlotte, North Carolina and Norwalk, Connecticut. Over the next three years, it will invest $50 million on top of accommodating more than 1600 employees which will be located on its renovated campus.
It expects to realise cost savings by consolidating the buildings starting in 2024 and reach $10 million in annual cost savings by 2026. The savings will be partially reinvested in the business and are included in its plan to increase margins in its Snacks division.
“We are thrilled to invest in our people, our facilities and our Camden community, which Campbell has called home for more than 150 years,” explained Mark Clouse, President and CEO of Campbell. “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.”
Campbell will create a contemporary work environment which it says will foster connectivity and faster decision making. Part of the project includes upgrading existing space and constructing new buildings, including a new campus centre and a Snacks R&D centre and pilot plant.
It also plans to enhance workspaces, meeting and multi-purpose rooms and communal spaces to support “a variety of work styles”.
“Campbell is an iconic New Jersey company, and I’m pleased with their commitment to invest and grow in our state,” added New Jersey Governor Phil Murphy. “This plan will create jobs, stimulate economic development, and strengthen Campbell’s roots in Camden where their efforts have played an essential role in the continued transformation of the city.”
To support its two-division operating model, the Snacks and Meals & Beverages division will have distinct sections of the campus.
The investment comes as the latest step in Campbell’s growth plans and the company’s commitment to Camden which has served as its home since 1869. A major expansion and renovation of its campus was last completed in 2010 at a total cost of $132 million. At the time, it also purchased vacant buildings surrounding its headquarters, spurring the redevelopment of Camden’s Gateway District.
According to the company, Campbell has been evaluating plans to unify its Snacks headquarters following the acquisition of Snyder’s-Lance in 2018. The division currently operates between multiple office locations between Camden, Charlotte and Norwalk.
By investing in Camden and unifying most of the office-based employees, the company has said it will reap the greatest benefits for the business and provide the Snacks division with improved facilities, resources and services.
“We have a long history in Connecticut and North Carolina and will continue to have key operations in both states,” said Clouse. “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.”
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