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January 18, 2023

Campbell's to renovate, expand Camden HQ with $50 million investment

The soup company plans to consolidate its two divisions under one roof, closing offices in North Carolina and Connecticut

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Campbell's HQ Camden Provided Image/Campbell Soup Co.

The rendering above shows a reimagined workspace planned as part of Campbell Soup Co.'s $50 million renovation and expansion of its headquarters in Camden, New Jersey.

Campbell Soup Co.'s Camden headquarters is on track for a major redesign in the coming years, with a $50 million investment lined up and plans to consolidate existing offices in North Carolina and Connecticut.

Over the next three years, Campbell will build a new campus center and a pilot plant for snack research and development. The company also will enhance workspaces with upgrades to meeting and multipurpose rooms, with more adaptable communal facilities for employees. 

The company's roots in Camden stretch back to 1869. The current site of the headquarters at One Campbell Place has been used since 1957, and the last major expansion and renovation of the campus was completed in 2010 at a cost of $132 million.

The latest overhaul is meant to drive creativity, collaboration and career development at the Camden headquarters, where about 350 new positions will bring the total number of employees there to 1,600.

Once renovations are completed, the company's two divisions — Snacks and Meals & Beverages — will be housed under one roof.

“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, who joined the company in 2019. “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."

Campbell said the contemporary work environment planned at the Camden site will have an on-site day care, a café and a free fitness center along with a variety of other services for employees.

Construction on the initiative is expected to begin in March.

The company said that the plan to close its offices in Charlotte and Norwalk will not result in the elimination of any commercial jobs. Those who are eligible to move to Camden will be given "comprehensive relocation support" later this year. Those who don't want to make the move will receive job placement support and severance benefits.

Campbell has been considering bringing its Snacks division to Camden since the company acquired Snyder's-Lance, Inc. in 2018. The division includes iconic brands such as Pepperidge Farm's cookies and Goldfish crackers and potato chips under the Kettle and Cape Cod names. The Meals & Beverages division includes the company's soups, broths, juices, sauces and salsas. 

Currently, the Snacks division is split across offices in Camden, Charlotte and Norwalk.

The closure of the Snacks offices in Charlotte and Norwalk will not impact other Campbell facilities in those locations. The Pepperidge Farm factory in Bloomfield, Connecticut has plans to expand this year, while manufacturing and distribution facilities in North Carolina will remain there.

Consolidating offices at the Camden headquarters will result in $10 million in annual cost savings by fiscal year 2026, some of which will be reinvested in the Snacks division to increase margins, the company said.

The upgrades and expansion in Camden will be assisted by unspecified tax incentives from New Jersey.

Gov. Phil Murphy welcomed the company's announcement on Wednesday.

“Campbell is an iconic New Jersey company, and I’m pleased with their commitment to invest and grow in our state,” said 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.”