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Stock impact report

Campbell's to shutter Cape Cod potato chip plant [Yahoo! Finance]

The Campbell's Company (CPB) 
Last the campbell's company earnings: 3/4 07:30 am Check Earnings Report
US:NYSE Investor Relations: investor.campbellsoupcompany.com
Company Research Source: Yahoo! Finance
The Campbell's Company plans to close a potato chip plant in Massachusetts, shifting production to other facilities in an effort to boost efficiency. Campbell's will cease operations at its Hyannis manufacturing site, which produces Cape Cod and Kettle Brand chips, in April and sell the facility. It is the smallest potato chip plant in Campbell's network in terms of size and volume. The company said the closure will impact 49 employees. “This difficult decision reflects a careful assessment of our business needs to strengthen our operations and position our Snacks business for long-term growth,” Elizabeth Duggan, president of Campbell's Snacks, said in a statement. Cape Cod chips was founded in Hyannis in 1980, and the plant has been in operation since 1985, according to Campbell's. The company acquired the brand as part of its nearly $5 billion purchase of Snyder's-Lance in 2018 As the Cape Cod brand has grown, production has increased at other snack locations, including at Show less Read more
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