Tantalizers to tap seafood market with DanBethel Marine acquisition
Tantalizers Plc, a major player in the Nigerian food and quick-service restaurant industry, has announced the signing of the Memorandum of Understanding to acquire all the assets of Apapa-based marine and fishing company, DanBethel Marine Services Limited.
The proposed acquisition 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 said in a statement.
DanBethel, which has a fleet of fishing trawlers and related marine assets, has over the years established itself as a player in the domestic seafood supplies space, according to Tantalizers.
“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,” it said.
The acquisition, expected to be completed 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,” Tantalizers said.
”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,” Tope Fagbamila, MD/CEO of DanBethel, said.
Adam Nuru, chairman of Tantalizers, 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.”
