Tracy Bennett
Oliver Gettell
October 29, 2015 AT 12:00 PM EDT

Billy Bob Thornton is back on the naughty list. The Sling Blade and Our Brand Is Crisis actor is set to reprise his role as a degenerate thief turned shopping-mall St. Nick in Bad Santa 2.

Miramax and Broad Green Pictures, who are co-financing and co-producing the film, announced the news Thursday.

Geyer Kosinski (Changeling, TV’s Fargo) will produce the sequel, which is scheduled to hit theaters during the 2016 holiday season. Principal photography begins in January in Montreal.

The original Bad Santa, directed by Terry Zwigoff and released in 2003, received solid reviews and grossed a modest $60 million, on a $23 million budget. It has since become something of a cult favorite, thanks in no small part to Thornton’s gleefully blackhearted performance.

“We’ve been waiting far too long to see Billy Bob’s Willie Soke mess with the holiday season in his own unique way,” said Zanne Devine, Miramax’s executive vice president of film and TV, in the announcement.

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