Campbell Soup, a renowned food company based in Camden, N.J., has revealed its plans to invest approximately $160 million in a manufacturing plant located in Utah. This particular facility is responsible for producing Goldfish crackers, and the investment aims to meet the increasing demand for this popular snack.
The expansion project involves the establishment of a new production line at the Richmond bakery. This addition is expected to enhance the Goldfish output by an impressive 50%, resulting in the production of 1,500 crackers per second.
Furthermore, Campbell Soup’s investment will have a positive impact on the job market, as it is set to create more than 80 new positions at the bakery. The Richmond bakery has a long-standing history of producing Pepperidge Farm products for the past 50 years.
The snacks business of Campbell Soup has played a significant role in the company’s financial success. In fact, during the quarter that ended on April 30, this sector accounted for over half of the company’s sales and nearly half of its operating profit. Impressively, Goldfish sales experienced a growth rate of 21% during that same quarter.
This isn’t the first time Campbell Soup has expanded its Goldfish production capabilities. Over the years, they have increased capacity in their bakeries located in Florida and Ohio. Their latest expansion in Utah is projected to be operational by the end of 2024.
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