File photo: Tantalizers plc
Tantalizers Plc has reached a preliminary agreement to acquire Nigeria’s largest indigenous fisheries group in a major move that deepens the emerging foodtainment conglomerate’s diversification into Nigeria’s blue economy.
The board of Tantalizers announced in a Sunday statement that it has completed a Memorandum of Understanding with Karflex Fisheries Limited and Karflex Investment Limited to acquire the assets of the two companies and integrate these significant fishing assets into Tantalizers Fisheries Limited. Under the agreement, the assets under consideration include 24 fish trawlers and shrimpers, 13 cold room facilities, and related commercial fisheries infrastructure.
After signing the MoU, Tantalizers Fisheries Limited and its financial advisers, GTI Capital and United Capital, will carry out a thorough review of the legal, financial, technical, operational, environmental, and commercial aspects of the target companies and their assets within a set timeframe.
Speaking at the signing ceremony, the Chairman of Tantalizers Plc, Alhaji Adam Nuru, said the MoU was part of the company’s strategic diversification and expansion into Nigeria’s blue economy and commercial seafood sector. Nuru, who was represented by Tantalizers’ Director, Israel Ovirih, said Tantalizers, through its subsidiary, Tantalizers Fisheries Limited, plans to tap emerging opportunities in Nigeria’s blue economy and maritime reforms through a large-scale focus on industrial fish trawling, shrimping, seafood processing, cold-chain logistics, export operations, and sustainable fisheries development.
