Campbell Soup Company has announced that it plans to integrate its snacks offices in Charlotte, North Carolina and Norwalk, Connecticut, into its headquarters in Camden, New Jersey.
The move will not involve any roles being eliminated due to the closing of the Charlotte and Norwalk office buildings, and Campbell plans to provide eligible employees with comprehensive relocation support.
The company will invest $50 million (€46.1 million) to upgrade its facilities in Camden over the next three years as it seeks to accommodate more than 1,600 employees.
Annual Cost Savings
The company expects achieve $10 million (€9.2 million) in annual cost savings by its 2026 financial year from consolidating the buildings.
The savings will be partially reinvested in the business and are part of the company’s plan to increase margins in the snacks division, Campbell said.
Campbell’s president and CEO Mark Clouse, 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."
The project at Camden will include upgrading existing space and constructing new buildings, including a new campus centre, a snacks research and development centre and a pilot plant.
Also in the pipeline are new workspaces, meeting and multi-purpose rooms, and communal spaces to support a wide variety of work styles.
These workspaces will feature various amenities, such as on-site day care, a café, complimentary health and fitness centre, among others. Construction is expected to commence in March of this year.
The initiative also marks the first major investment in the Camden campus since a $132-million expansion and renovation project at the site in 2010.
New Jersey governor, Phil Murphy said, “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.”
The relocation of team members from the Charlotte and Norwalk facilities will commence in mid-2023.
The closure of the buildings will not impact Campbell’s other operations in Connecticut and North Carolina.
In Connecticut, the company will continue to operate its Pepperidge Farm bakery in Bloomfield, which employs nearly 400 people and plans to expand in 2023. Elsewhere, in North Carolina, Charlotte will continue its manufacturing and distribution operations, with approximately 1,400 employees in the Pineville area.
Combined with the company’s Maxton manufacturing site, Campbell employs approximately 2,500 people in the state.
"We have a long history in Connecticut and North Carolina and will continue to have key operations in both states,” Clouse added. "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."