Campbell Announces Plans to Improve Operational Efficiency of Its North American Thermal Supply Chain Network; Company to End Manufacturing at Toronto Plant
Campbell To Move Canadian Headquarters and Commercial Operations To
New Location in
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Several factors have resulted in excess capacity in Campbell's North
American thermal supply chain network, including significant
productivity improvements and volume declines of canned soup in
Campbell plans to operate the
Campbell will offer affected employees support to assist with the transition by providing severance packages that recognize their commitment and service. The company will provide career counseling with employment advisors who can assist with job searches, resume writing and preparing for interviews. Campbell will also host job fairs and provide on-site financial planning workshops, among other benefits, to assist employees with the transition.
Opening New Canadian Headquarters
Campbell will relocate its Canadian headquarters, along with nearly 200
roles, in the next several months. Site selection is underway for a new
location in the
The decision to stop manufacturing in
Campbell currently employs approximately 18,500 people worldwide.
About
Campbell (NYSE:CPB) is driven and inspired by our Purpose, “Real food
that matters for life’s moments.” We make a range of high-quality soups
and simple meals, beverages, snacks and packaged fresh foods. For
generations, people have trusted Campbell to provide authentic,
flavorful and readily available foods and beverages that connect them to
each other, to warm memories and to what’s important today. Led by our
iconic Campbell’s brand, our portfolio includes
FORWARD-LOOKING STATEMENT
This release contains “forward-looking statements” that reflect the
company’s current expectations about the impact of its future plans and
performance on the company’s business or financial results. These
forward-looking statements rely on a number of assumptions and estimates
that could be inaccurate and which are subject to risks and
uncertainties. The factors that could cause the company’s actual results
to vary materially from those anticipated or expressed in any
forward-looking statement include (1) changes in consumer demand for the
company’s products and favorable perception of the company’s brands; (2)
the risks associated with trade and consumer acceptance of product
improvements, shelving initiatives, new products and pricing and
promotional strategies; (3) the impact of strong competitive responses
to the company’s efforts to leverage its brand power with product
innovation, promotional programs and new advertising; (4) changing
inventory management practices by certain of the company’s key
customers; (5) a changing customer landscape, with value and e-commerce
retailers expanding their market presence, while certain of the
company’s key customers continue to increase their significance to the
company’s business; (6) the company’s ability to realize projected cost
savings and benefits from its efficiency and/or restructuring
initiatives; (7) the company’s ability to manage changes to its
organizational structure and/or business processes, including selling,
distribution, manufacturing and information management systems or
processes; (8) product quality and safety issues, including recalls and
product liabilities; (9) the ability to complete and to realize the
projected benefits of acquisitions, divestitures and other business
portfolio changes; (10) the conditions to the completion of the
Snyder’s-Lance acquisition by the company, including obtaining
Snyder’s-Lance shareholder approval, may not be satisfied, or the
regulatory approvals required for the acquisition may not be obtained on
the terms expected, on the anticipated schedule, or at all; (11)
long-term financing for the Snyder’s-Lance acquisition may not be
available on favorable terms, or at all; (12) closing of the
Snyder’s-Lance acquisition may not occur or may be delayed, either as a
result of litigation related to the acquisition or otherwise; (13) the
company may be unable to achieve the anticipated benefits of the
Snyder’s-Lance acquisition; (14) completing the Snyder’s-Lance
acquisition may distract the company’s management from other important
matters; (15) disruptions to the company’s supply chain, including
fluctuations in the supply of and inflation in energy and raw and
packaging materials cost; (16) the uncertainties of litigation and
regulatory actions against the company; (17) the possible disruption to
the independent contractor distribution models used by certain of the
company’s businesses, including as a result of litigation or regulatory
actions affecting their independent contractor classification; (18) the
impact of non-U.S. operations, including trade restrictions, public
corruption and compliance with foreign laws and regulations; (19)
impairment to goodwill or other intangible assets; (20) the company’s
ability to protect its intellectual property rights; (21) increased
liabilities and costs related to the company’s defined benefit pension
plans; (22) a material failure in or breach of the company’s information
technology systems; (23) the company’s ability to attract and retain key
talent; (24) changes in currency exchange rates, tax rates, interest
rates, debt and equity markets, inflation rates, economic conditions,
law, regulation and other external factors; (25) unforeseen business
disruptions in one or more of the company’s markets due to political
instability, civil disobedience, terrorism, armed hostilities, extreme
weather conditions, natural disasters or other calamities; and (26)
other factors described in the company’s most recent Form 10-K and
subsequent
View source version on businesswire.com: http://www.businesswire.com/news/home/20180124006037/en/
Source:
Campbell Soup Company INVESTOR CONTACT: Ken Gosnell, 856-342-6081 Ken_Gosnell@campbellsoup.com or MEDIA CONTACT: Thomas Hushen, 856-342-5227 Thomas_Hushen@campbellsoup.com