Campbell Soup Co. has revealed plans to consolidate its snacks offices to increase margins in the Snacks division. The offices in Charlotte, North Carolina, and Norwalk, Connecticut, will be combined into the Camden, New Jersey, location where it is based.
“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 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 has been evaluating plans to unify its Snacks headquarters following the acquisition of Snyder’s-Lance Inc. in 2018. It was a $6.1 billion deal that created a $10 billion company with nearly half of its annual sales coming from snacks.
This was Campbell’s sixth acquisition in five years. It acquired Bolthouse Farms in August 2012, organic baby-food company Plum in June 2013, biscuit company Kelsen in August 2013, fresh salsa and hummus maker Garden Fresh Gourmet in June 2015 and organic broth and soup producer Pacific Foods in December 2017.
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.
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.
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.
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.
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.
The building closings will not affect Campbell’s other operations in Connecticut and North Carolina.
In Bloomfield, Connecticut, Campbell will continue to operate its Pepperidge Farm bakery. 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 state.
“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.”
Camden, New Jersey-based Campbell Soup produces foods and meals, including soup and sauces, snacks and healthy beverages. Other major brands include Campbell's, V8, Swanson, Pace and Prego.
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