Tantalizers Eyes Blue Economy, To Acquire Fish Trawling Firm

Tantalizers Plc has signed the Memorandum of Understanding (MoU) to acquire all the assets of Apapa-based marine and fishing company, DanBethel Marine Services Limited.

This, it said, was in its bid to continue the transformation and deliver value to its shareholders.
The company, in a statement signed by the company’s secretary, Olamide Babawale-Mo said, this acquisition endeavour marks a significant step in the company’s strategic expansion into the blue economy space specifically focusing on industrial fish trawling, aquaculture, mariculture, seafood supplies and marine operations sector.

It stated that, “Apapa-Lagos based DanBethel is renowned for its fleet of fishing trawlers and related marine assets. The company 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.

“The DanBethel team brings decades of expertise in fish trawling and processing, thereby positioning Tantalizers Plc to tap into the vast potential of seafood production, supply chain integration, and value-added processing in aquaculture.”

The statement added that, “this acquisition targeted for completion within the next 180 days represents a critical step in exploring new markets and providing high-quality seafood products for our customers, both domestic and international.”

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It stressed that, the MoU signed attest to the new Tantalizers Plc leadership commitment to diversifying its portfolio and creating long-term value for its shareholders, while supporting sustainable marine practices in Nigeria’s over 853 kilometres coastline.

Speaking on the MoU signing, MD/CEO of DanBethel, Tope Fagbamila stated that, ‘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.’

Chairman of Tantalizers, Adam Nuru stated that, “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.”