Tantalizers Plc has taken a major step toward expanding its business operations with plans to acquire Nigeria’s largest indigenous fisheries group. The company recently signed a Memorandum of Understanding with Karflex Fisheries Limited and Karflex Investment Limited as part of the proposed deal. The planned acquisition is expected to strengthen Tantalizers’ growing presence in Nigeria’s blue economy and seafood industry.
According to the agreement, the company intends to take over major assets owned by the fisheries firms, including 24 fish trawlers and shrimpers, 13 cold room facilities, and other important commercial fishing infrastructure. Following the signing of the agreement, Tantalizers Fisheries Limited, alongside financial advisers GTI Capital and United Capital, will begin a detailed due diligence process. The review will cover legal, financial, technical, environmental, operational, and commercial aspects of the proposed transaction before final approval is reached. Speaking during the signing ceremony, Chairman of Tantalizers, Alhaji Adam Nuru, explained that the move forms part of the company’s broader diversification strategy.
He said the company is positioning itself to benefit from opportunities in Nigeria’s marine and seafood sector through industrial fishing, shrimping, seafood processing, export activities, and cold chain logistics. He stated, “The Board of Tantalizers Plc is pleased with the signing of this MoU and looks forward to the successful completion of the transaction.”
He added that the acquisition represents one of several strategic business moves made since the restructuring of the company into what he described as a “Foodtainment Group.” Nuru also explained that once the transaction is completed, the acquired assets and operations would be merged into Tantalizers Fisheries Limited. According to him, the goal is to establish a fully owned fishing and trawling business capable of competing effectively in both local and international seafood markets. Chairman of Karflex Fisheries, Mr. Wilson Samuel, also expressed confidence in the partnership.
He said the company believes Tantalizers possesses the institutional structure and long term vision needed to expand and properly utilise the fisheries assets for sustainable growth. “We are delighted to enter into this MoU with Tantalizers Plc. We believe this transaction represents a significant opportunity to unlock the full commercial value of the assets built over the years by Karflex Fisheries,” Samuel said.
