NIGERIA – Quick service restaurant chain Tantalizers PLC has announced it has inked a Memorandum of Understanding (MoU) to acquire the assets of marine and fishing company, DanBethel Marine Services Limited marking a significant step in entering the supplier space.
The recent acquisition by Tantalizers PLC marks a significant milestone in the company’s strategic expansion into the blue economy and supply chain.
This move focuses on industrial fish trawling, aquaculture, mariculture, seafood supplies, and marine operations.
By leveraging DanBethel’s decades of expertise in fish trawling and processing, Tantalizers is poised to enhance its seafood production capabilities and streamline its supply chain integration.
The company revealed it desires to be a major seafood supplier to other restaurant chains in Nigeria and beyond.
With the growing demand for healthier protein sources and a shift toward sustainable food systems, this acquisition positions Tantalizers to explore new opportunities within the marine industry.
Adam Nuru, Chairman of Tantalizers, expressed the company’s ambition to capture substantial prospects in Nigeria’s underdeveloped fishing and aquaculture industries over the next five years.
Tope Fagbamila, Managing Director and CEO of DanBethel, praised the leadership at Tantalizers, expressing excitement about the collaboration and their role in propelling the company to new heights.
Nuru echoed this sentiment, highlighting that the acquisition perfectly aligns with Tantalizers’ long-term growth strategy and its investment in expanding the fleet to seize opportunities within Nigeria’s fishing and aquaculture sectors.
Africa’s seafood industry, particularly in tilapia farming, is experiencing significant growth, with forecasts indicating a 7% increase in production in 2025.
The continent is becoming an increasingly important player in global aquaculture.
DanBethel Marine Services, headquartered in Apapa, Lagos, is known for its fleet of fishing trawlers and other marine assets, having established a strong presence in Nigeria’s seafood supply market.
In 2024, Tantalizers saw a remarkable 266% growth in the Nigerian stock market. The company’s share price surged from N0.47 (US$0.0003) at the start of the year to a notable upward trend by August.
This acquisition follows Tantalizers’ recent announcement of a N1 billion (US$642,669.4) private equity investment, with Messrs Food Specialties and Banklink Africa Private Equities securing a majority stake in the company.
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