Tantalizers to Explore Blue Economy Space With DanBethel Acquisition

The company, which is currently under new management, has signed a Memorandum of Understanding (MoU) for the acquisition of a fish trawling firm, DanBethel Marine Services Limited.

Business Post reports that recently, the duo of Messrs Food Specialities and Organics Limited and Banklink Africa Private Equities Limited acquired the majority shareholding of Tantalizers.

This has been responsible for the recent uptick in the share price of the company at the Nigerian Exchange (NGX) Limited.

In a notice to the exchange over the weekend, Tantalizers said its entry into the blue economy landscape is part of the strategies to continue its transformation and deliver value to shareholders.

It stated that the acquisition of all the assets of the Apapa-based marine and fishing company is to play big in the industrial fish trawling, aquaculture, mariculture, seafood supplies, and marine operations sector.

DanBethel is renowned for its fleet of fishing trawlers and related marine assets. It has over the years established itself as a player in the domestic seafood supplies space.

With the increasing demand and emphasis on seafood as a healthier source of protein, sustainable food systems, and marine industries-based opportunities, this venture aligns with the Tantalizers’ new vision of expanding into innovative, more dynamic, and sustainable growth sectors.

“Our team admires the courage and capacity of the new Tantalizer’s leadership and is excited to be part of pivoting the company to a new height,” the chief executive of DanBethel, Tope Fagbamila, said.

Also, the chairman of DanBethel and Tantalizers, Mr Adam Nuru, said, “DanBethel 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.”

The acquisition of DanBethel is expected to position Tantalizers as a leader in seafood production, supply chain integration, and value-added processing in aquaculture.

The takeover is expected to be completed within the next 180 days.