Campbell to Expand Goldfish Production Capacity with $160 Million Investment in Richmond, Utah Bakery

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Campbell Soup Company (NYSE: CPB) today announced it is investing approximately $160 million in its Richmond, Utah, manufacturing facility to expand production of Goldfish crackers to help meet increased consumer demand.

Metadata
Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Tuesday, July 25, 2023
Information
Tags: 
Food, Beverage, Retail, Partnership, Campbell Soup Company, Pepperidge Farm, CPB, Flour, Campbell, Growth, NYSE, Renewable energy, Cache Valley, Goldfish, PHM
Geotags: 
OHIO, UTAH, FLORIDA, NEW JERSEY, UNITED STATES, NORTH AMERICA
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Organisation: 
CAMPBELL SOUP, CAMPBELL SOUP COMPANY
Stock Symbol: 
NYSE:CPB
Summary
Key Points: 
  • Campbell Soup Company (NYSE: CPB) today announced it is investing approximately $160 million in its Richmond, Utah, manufacturing facility to expand production of Goldfish crackers to help meet increased consumer demand.
  • The new line will increase the bakery’s output of Goldfish by 50 percent and produce over 5 million Goldfish per hour or 1,500 Goldfish every second.
  • As part of the project, Utah Flour Milling, LLC will build a flour mill adjacent and connected to the Campbell bakery.
  • This is Campbell’s third Goldfish capacity expansion in the past two years, following bakery expansions in Lakeland, Florida and Willard, Ohio.


Campbell Soup Company (NYSE: CPB) today announced it is investing approximately $160 million in its Richmond, Utah, manufacturing facility to expand production of Goldfish crackers to help meet increased consumer demand. The new line will increase the bakery’s output of Goldfish by 50 percent and produce over 5 million Goldfish per hour or 1,500 Goldfish every second. The expansion also includes the construction of an onsite flour mill that will be separately owned and operated.

“Goldfish is an iconic brand that is quickly approaching a billion-dollar business, and this investment demonstrates our commitment to the growth of our brands and the communities where we operate,” said Chris Foley, Executive Vice President and President, Campbell Snacks. “

With a bakery in Richmond and operations in Logan, the company currently employs more than 400 people in the Cache Valley region and will add more than 80 jobs with this investment. The bakery, which has made Pepperidge Farm products for 50 years, was recently named one of the top employers in Northern Utah by the Cache Valley Daily and Cache Valley Media Group.

As part of the project, Utah Flour Milling, LLC will build a flour mill adjacent and connected to the Campbell bakery. The onsite mill is a partnership between PHM Brands’ Panhandle Milling and NIPPN CORPORATION. The mill will increase supply reliability, provide capacity for continued growth, and improve plant efficiency. In addition, the mill will reduce the site’s greenhouse gas emissions by eliminating over 2,200 trucks per year transporting the flour from mill to bakery.

The company expects the new Goldfish line to be operational by the end of 2024. This is Campbell’s third Goldfish capacity expansion in the past two years, following bakery expansions in Lakeland, Florida and Willard, Ohio.

About Campbell Soup Company

For more than 150 years, Campbell (NYSE: CPB) has been connecting people through food they love. Generations of consumers have trusted Campbell to provide delicious and affordable food and beverages. Headquartered in Camden, N.J. since 1869, Campbell generated fiscal 2022 net sales of $8.6 billion. Our portfolio includes iconic brands such as Campbell’s, Cape Cod, Goldfish, Kettle Brand, Lance, Late July, Milano, Pace, Pacific Foods, Pepperidge Farm, Prego, Snyder’s of Hanover, Swanson and V8. Campbell has a heritage of giving back and acting as a good steward of the environment. The company is a member of the Standard & Poor’s 500 as well as the FTSE4Good and Bloomberg Gender-Equality Indices. For more information, visit www.campbellsoupcompany.com or follow company news on Twitter via @CampbellSoupCo.

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