HONEY Bun Limited is to spend $1 billion to create a new production facility in Angels, St Catherine, which is set to more than double the manufacturing capacity of the baking company.

Honey Bun signed the long-term lease agreement for the 160,000 square feet mega-facility on last Wednesday.

“These are exciting times,” said Honey Bun’s Chief Executive Officer (CEO) Michelle Chong.

“The signing of this lease signifies that the future of the company is bright. Our products are in high demand, and we have outgrown our current facility, so we must meet the demand,” added the CEO.

In the meantime, Deputy CEO Daniel Chong said that the long-term lease of the new four-and-a-half-acre property, which will be operational in the next seven to 10 months, will initially see Honey Bun moving half of its operation from its current Retirement Crescent property in the Corporate Area.

“The new property makes access to major markets more efficient while allowing us to answer the call from our customers for greater supply. We are looking forward to the growth of the business for which we are now well-positioned,” he said.

Honey Bun’s Executive Chairman Herbert Chong was equally optimistic, noting that the expansion was part of the company’s robust strategic growth plan.

“We will definitely be introducing new products and, logistically, the new facility is between two major highways and gives us access to greater Jamaica.”

He added that while the Retirement Crescent facility will continue to supply Kingston and St Andrew, St Thomas, Portland and St Mary, the new Angels facility will service the rest of the island.

“Good days are ahead for Honey Bun and our customers,” said the executive chairman.