Campbell to Expand World Headquarters Facilities with $72 Million Investment 

08/02/07 Campbell Soup Company has announced an agreement with the State of New Jersey and the City and County of Camden under which Campbell will make an investment of up to $72 million to expand and enhance its World Headquarters in Camden as part of a redevelopment plan for the city. The investment reflects the latest step in Campbell's transformation and the company's longstanding commitment to Camden, its home since 1869. At a morning news conference today, Campbell President and CEO Douglas R. Conant will unveil plans for a new 80,000 square foot employee services building and highlight enhancements to existing Campbell buildings.

"Camden has been Campbell's home for more than 137 years," Conant said. "We have deep roots here, not just in bricks and mortar, but through our community service, employee volunteerism, and through the Campbell Soup Foundation's partnerships with community organizations. This is a great day for Campbell; a great day for the City and County of Camden; and a great day for the State of New Jersey and the Delaware Valley."

Campbell expects to break ground on the building, pending permits and other governmental approvals, in the summer of 2007 and plans to complete construction in the fall of 2008. Once the new building is completed, Campbell's Camden facilities will include approximately 750,000 square feet of office and research and development space. The project marks the first major development to Campbell's World Headquarters since the construction of the Dr. John T. Dorrance Culinary Center in 2003. The Dorrance Center is regularly a site of community events.

"This project is the latest step in Campbell's transformation," noted Conant. "We have made extraordinary strides in meeting workplace, marketplace, and financial goals during the past six years. The time is right to enhance our work environment for employees and visitors. This campus will be the new face of Campbell Soup Company in Camden."