Campbell to Consolidate Snacks Offices
The company will invest $50 million in Camden, N.J., headquarters to fuel growth
Campbell Soup Company announced plans to consolidate its snacks offices in Charlotte, N.C. and Norwalk, Conn. into its headquarters in Camden, N.J. 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.
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.
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 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.
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.
The building closings will not impact Campbell’s other operations in Connecticut and North Carolina.
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