Destination Maternity Corporation To Relocate Headquarters-Distribution Center To Southern New Jersey
In Fall 2014 the firm will move its corporate headquarters to a renovated 74,000 square foot Class A office building in Moorestown, New Jersey. In early 2015, its distribution operation center will relocate to a state-of-the-art 400,000 square foot build-to-suit distribution center to be built in Florence Township, New Jersey.
To help the Company offset the costs of relocating to its new headquarters and distribution center facilities, the Board of the New Jersey Economic Development Authority approved an incentive package of $40 million in benefits, over a 10-year period, from the State of New Jersey under the Grow New Jersey Assistance Program.
Ed Krell, Chief Executive Officer of Destination Maternity said, "Our current combined headquarters and distribution center facility on 5th Street in Philadelphia has served us well since we moved there in 1996, when we were less than a $200 million annual sales company. However, we are now a significantly larger and more complex business, with over $500 million of annual sales, multiple brands and distribution channels...“
“The headquarters move will allow us to create a more modern, spacious, bright and open office environment for our headquarters team members, which promotes the kind of collaborative teamwork, creativity and problem solving across all brands and functional areas which is so critical to our continued growth and success. The distribution center move will provide us with a new, build-to-suit, state-of-the-art facility with greater space, a more efficient single-story layout and new material handling equipment to increase the capacity and efficiency of our distribution operations,” Krell explained.
"A critical factor in our decision to relocate our headquarters and distribution facility to New Jersey was the approval we have obtained from the New Jersey Economic Development Authority for an incentive package of $40 million in benefits, over a 10-year period, from the State of New Jersey in connection with our relocation, under the Grow New Jersey Assistance Program. We greatly appreciate the willingness of the State of New Jersey to provide us with such a significant incentive package for our relocation. Without this financial incentive package, it would have been impossible for us to make this relocation project a reality. We are also grateful for the support and the customer service approach of the New Jersey Business Action Center, led by Lt. Governor Guadagno. The Center was a valuable resource to us as we contemplated relocating to New Jersey,” Krell added.
"We applaud Destination Maternity's decision to choose New Jersey as the new home for its headquarters and distribution facility," said New Jersey Lt. Governor Kim Guadagno. "The Christie Administration is committed to ensuring that businesses like Destination Maternity have the necessary tools and assistance to succeed and grow in our state. New Jersey is proud to welcome yet another successful international business to the Garden State."
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