Miramax and Broad Green Pictures have hired Mark Waters to direct Billy Bob Thornton in “Bad Santa 2.”

Geyer Kosinski will produce. Miramax will partner with Broad Green Pictures to co-finance and co-produce. Broad Green will distribute in the U.S. during the 2016 holiday season.

Sierra/Affinity will handle foreign sales with starting at the upcoming American Film Market, which opens Wednesday. Principal photography will commence in January in Montreal.

The 2003 original grossed $60 million domestically on a budget of $23 million. Thornton, who came on to the project last week, was seen on season one of FX’s “Fargo” and appears in Warner Bros.’ “Our Brand is Crisis.”

Waters’ credits include “Mean Girls” and “Freaky Friday” He will direct from a screenplay by Johnny Rosenthal, Doug Ellin (“Entourage”) and Shauna Cross (“If I Stay,” “Whip It”).

Original cast members Tony Cox and Brett Kelly are also returning as Marcus and Thurman Merman, respectively.

Geyer Kosinski is producing. Exec producers are Broad Green’s Garbriel and Daniel Hammond, Mark Waters and Jessica Tuchinsky and Miramax’s Zanne Devine and David Thwaites.

The news was first reported by The Hollywood Reporter.