Honey Bun 1982 Limited has announced that the company is in the process of acquiring a property at a cost of J$70 million to relocate one of its plants closer to home base.

Honey Bun, whose business span a wide array of baked products, is headquartered at Retirement Crescent in the Cross Roads area, but also has a plant at East Street, sited in the downtown area of the capital.

Honey Bun says it intends to take possession of the new property before the end of this year.

Marketing manager Krystal Chong said the company would release no other details on the property acquisition until the transaction is complete.

The relocation project aims to improve operational synergies and work flow at the bakery company, which reported net profit of J$42 million at yearend September 2012, up from J$28 million the previous year.

business@gleanerjm.com