Campbell Soup Upgrades NJ HQ With $50M
January 24, 2023
Soup plans to consolidate its Snacks offices in Charlotte, N.C. and Norwalk,
Conn. into its headquarters in Camden. Over the next three years, the
company plans to invest approximately $50 million to enhance its Camden
facilities to drive greater creativity, collaboration and career
development, as well as to accommodate more than 1,600 employees that will
now be located on its renovated campus.
The company expects to realize cost savings from consolidating the buildings
beginning in fiscal year 2024 and reach $10 million in annual cost savings
by fiscal year 2026. The savings will be partially reinvested in the
business and are included in the company’s plan to increase margins in the
Snacks division. No commercial roles are being eliminated related to the
closing of the Charlotte and Norwalk office buildings. The company will
provide eligible employees with comprehensive relocation support.
“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
Campbell’s President and CEO Mark Clouse. “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 company will create a contemporary work environment that fosters
connectivity and faster decision making. The project includes upgrading
existing space and constructing new buildings, including a new campus center
and a Snacks R&D center and pilot plant. The company plans to enhance
workspaces, meeting and multi-purpose rooms, and communal spaces to support
a wide variety of work styles. These adaptable workspaces will be
complemented with new and existing best-in-class amenities, such as on-site
day care, a café, complimentary health and fitness center and a variety of
other services. Construction is expected to start in March 2023.
“Campbell is an iconic New Jersey company, and I’m pleased with their
commitment to invest and grow in our state,” said 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 the company’s two-division operating model, the Snacks and Meals
& Beverages divisions will each have distinct sections of the campus that
celebrate and support their respective identities and business focus.
First Major Investment in Camden Campus Since 2010
The investment reflects the latest step in Campbell’s growth plans and the
company’s commitment to Camden, its home since 1869. Campbell has been at
its current location since 1957, when the corporate headquarters was moved
roughly one mile from the original manufacturing plant.
Campbell last completed a major expansion and renovation of its campus in
2010 at a cost of approximately $132 million. At that time, Campbell also
purchased vacant buildings and parcels surrounding its headquarters, which
spurred the redevelopment of Camden’s Gateway District and the location of
other major businesses to the city, including Subaru of America.
Charlotte and Norwalk Buildings to Close
Campbell has been evaluating plans to unify its Snacks headquarters
following the acquisition of Snyder’s-Lance, Inc. in 2018. The division
currently operates across multiple office locations, mainly split between
Camden, Charlotte and Norwalk.
The company determined that investing in Camden and unifying most of the
company’s office-based employees in one location provides the greatest
benefits for the business and will provide the Snacks division with
significantly improved facilities, resources and services than those that
exist in Charlotte or Norwalk.
Team members in Charlotte and Norwalk will relocate to Camden in phases
starting in mid-2023. For employees who choose not to relocate, Campbell
will provide job placement support and severance benefits commensurate with
level and years of service.
building closings will not impact Campbell’s other operations in Connecticut
and North Carolina.
In Connecticut, Campbell will continue to operate its Pepperidge Farm
bakery in Bloomfield. Opened in 2002, the Bloomfield bakery employs nearly
400 people, is actively hiring and has plans to expand in 2023.
In North Carolina, Charlotte will remain
a key manufacturing and distribution center, 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
“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.”