Honey Bun (1982) Limited Expands Capacity

• Honey Bun (1982) Limited (HONBUN) announced that its Board of Directors approved the Company to sign an agreement to expand its capacity by leasing a location at MJS Technology Park, Angels, Spanish Town. 

• The company signed a long-term lease agreement for the 160,000 square feet which signifies its optimism about future prospects.

• Honey Bun’s CEO Michelle Chong highlighted that the expansion was necessary as the company’s products are in high demand and that the company has outgrown its current facility in Retirement Crescent, Kingston.

• Deputy CEO Daniel Chong noted that the long-term-lease of the new four-and-a-half-acre property will initially see Honey Bun moving half of its operation from its current Kingston facility and will be operational in the next 7 to 10 months.

• This expansion will more than double its manufacturing capacity and is part of the company’s aggressive growth and expansion strategy.

• The new facility will be between two major highways, giving Honey Bun greater access to markets outside the Kinston and St. Andrew metropolitan area.

• According to Executive Chairman Herbert Chong, the current facility will continue to supply Kingston and St Andrew, St Thomas, Portland and St Mary, while the new Angels facility will service the rest of the island.

(Sources: JSE, NCBCM Research)