By Cynthia Alo

In a move to deepen it’s foot print in the Nigera’s blue economy and commercial seafood sector, Tantalizers Plc, Nigera’s food conglomerate said it has completed a Memorandum of Understanding to acquire Karflex Fisheries Limited and Karflex Investment Limited, one of the country’s indigenous fisheries group.

It would be recalled that in 2024, the foodtainment conglomerate also acquired DanBethel Marine Services Limited (DanBethel), a Lagos-based marine and fishing enterprise.

In a statement, the Board of Tantalizers said the two companies will be integrated into its subsidiary,Tantalizers Fisheries Limited.

The proposed transaction, according to the statement forms part of Tantalizers’s strategic diversification through Tantalizers Fisheries Limited with a focus on industrial fish trawling, shrimping, seafood processing, cold-chain logistics, export operations, and sustainable fisheries development.

The assets under consideration include 24 fish trawlers and shrimpers, 13 cold room facilities, and various commercial fisheries infrastructure.

Under the terms of the MOU, Tantalizers Fisheries Limited and its appointed advisers will undertake a comprehensive legal, financial, technical, operational, environmental, and commercial due diligence exercise on the target companies and their assets within an agreed timeline.

Speaking on the development, Tantalizers Chairman, Alhaji Adam Nuru, represented by the company’s Director, Israel Ovirih, said the deal fits into the group’s broader growth agenda.

He noted that Tantalizers, through its fisheries subsidiary, is looking to tap into the growing opportunities in Nigeria’s blue economy and maritime reforms.

He said:”The Board of Tantalizers Plc is pleased with the signing of this MoU and looks forward to the successful completion of the transaction. This marks one of the many strategic mergers and acquisitions undertaken since the acquisition and restructuring of Tantalizers Plc into a Foodtainment Group.”

He added that once the acquisition is finalised, the merged entity would position Tantalizers Fisheries as a fully-owned, competitive player in both local and international seafood markets.

Nuru linked the transaction to Nigeria’s food security goals, saying sectors with the capacity to generate foreign exchange earnings remain a priority for the group’s long-term value creation strategy.

On his part, Karflex Fisheries Chairman, Mr Wilson Samuel, expressed confidence in what the deal could unlock.

He said Tantalizers’ institutional structure and commitment to the blue economy gave Karflex’s shareholders strong assurance that the assets, built over many years, would be utilised going forward.

He said: “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. Tantalizers Pic’s renewed vision, institutional structure.

“We ultimately see Karflex Fisheries becoming a subsidiary of Tantalizers Pic and our shareholders are excited to see Tantalizers Pic successfully completing this acquisition in record time as scheduled”