Tantalizers signs MoU to acquire Apapa-based DanBethel Marine, reveals expansion plans 

This follows Tantalizers’ recent announcement of a N1 billion private equity injection by Messrs Food Specialties and Banklink Africa Private Equities, which jointly acquired a majority stake in the company.

In light of the recent N1 billion capital injection, Tantalizers announced on December 28, 2024, through an NGX disclosure, its decision to acquire all assets of DanBethel Marine Services Limited.

According to the announcement on the NGX platform, this planned acquisition aligns with Tantalizers’ strategy to expand into the blue economy, with a particular focus on the seafood industry.

The statement highlights the company’s intention to engage in industrial fish trawling, aquaculture, mariculture, seafood supplies, and related marine operations.

Commenting on the MoU signing, Tope Fagbamila, MD/CEO of DanBethel, expressed enthusiasm, stating, “Our team admires the courage and capacity of the new Tantalizer’s leadership and are excited to be part of pivoting the company to a new height.”  

Adam Nuru, Chairman of Tantalizers Plc, echoed this sentiment, adding, “DanBethel’s acquisition is an excellent strategic fit for us as we further invest over the next five years in the company’s fleet to capture significant opportunities in the largely unexplored Nigerian fishing and aquaculture industry.” 

Tantalizers has recorded a year-to-date (YTD) growth of 266% in the Nigerian stock market for 2024.

According to the company, the capital injection aims to address longstanding financial issues and help reposition Tantalizers for the future.