Campbell Soup will invest $50 million and add 330 workers at its New Jersey headquarters as part of a broader plan to consolidate the company’s sprawling snacking operations.
As part of the move, the food manufacturer said it will close its snacking operations in Charlotte, North Carolina, and Norwalk, Connecticut, and bring those workers to Camden, New Jersey.
Employees in Charlotte and Norwalk will start relocating to Camden in the middle of this year, the company said. For workers who decide not to relocate, Campbell will provide job placement support and severance benefits. No commercial roles are being eliminated as part of the consolidation.
“The decision to close these offices was difficult but it is the right thing to do for our business and culture,” Mark Clouse, Campbell’s CEO, said in a statement. “Unifying the company in one headquarters increases connectivity, collaboration and provides enhanced career opportunities for our team.”
The closings will not impact Campbell’s other operations in Connecticut and North Carolina, the company said.
Once best known for its soups, and snacks such as Pepperidge Farm and Goldfish Crackers, Campbell doubled down on snacking with its $5 billion acquisition of Snyder’s-Lance in 2018. The purchase, the largest in the company’s history, added brands such as Pop Secret, Kettle, Cape Cod and Emerald Nuts to the fold.
Since then, Campbell has been evaluating plans to unify its snacks in Camden, the site of its headquarters since 1869. By bringing the operations together, Campbell said it will provide its snacking division with “significantly improved facilities, resources and services than those that exist in Charlotte or Norwalk.”
Campbell expects cost savings from the consolidation beginning in fiscal year 2024 and reaching $10 million annually by fiscal year 2026. The savings will be partially reinvested in the business.
The CPG said the growth of its Camden facility, the first major expansion and renovation of the campus since 2010, will eventually employ about 1,600 people.