Adapted from Annie Weatherwax's debut novel, the drama is a story about a poverty-stricken mother and daughter who find solace and home amid the quirky residents of a small-town America, reported E!Online.
"I am very excited and honoured to be collaborating with Jane and Josh on this project and look so forward to bringing Annie's incredible characters to the screen," Holmes said in a statement.
The 35-year-old mother of one is also set to star in the film, playing the mother who sacrifices all for her daughter's well-being. No words yet on who would play the daughter.
Rosenthal said, "Katie has such a clear vision for the book's irreverent, original mother-daughter relationship. Her passion for the material, along with Josh Boone's ability to tell stories grounded in the comedy and drama of everyday, will truly bring these characters to life.