Geyer Kosinski will produce. Miramax will partner with Broad Green Pictures to co-finance and co-produce, said The Hollywood Reporter.
The 2003 original grossed USD 60 million domestically on a budget of USD 23 million.
Tony Cox and Brett Kelly, who were the part of original film, are also returning as Marcus and Thurman Merman, respectively.
The film is expected to hit theatres next year.