Tantalizers expands into seafood supplies with DanBethel acquisition

Tantalizers Plc, a leading name in Nigeria’s quick-service restaurant industry, is venturing into the blue economy with the acquisition of DanBethel Marine Services Limited, an Apapa-based marine and fishing company.

The move marks a significant milestone in the company’s diversification strategy, targeting industrial fish trawling, aquaculture, seafood supplies, and marine operations.

The acquisition, formalized through a Memorandum of Understanding (MoU), signals Tantalizers’ entry into the seafood and maritime sectors, leveraging increasing global demand for sustainable protein sources and marine industry opportunities.

DanBethel, known for its fleet of fishing trawlers and expertise in seafood supply chains, brings decades of experience to the partnership.

Financial details of the transaction were not disclosed. The acquisition is expected to be finalized within 180 days.

“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,” said Adam Nuru, chairman of Tantalizers.

The transition is being spearheaded by Tantalizers’ new Group Managing Director, Robert Speijer, whose appointment in November 2024 catalyzed a surge in the company’s stock value over the past year. A professional with over 30 years of experience in the blue economy, oil and gas, and maritime sectors, Mr Speijer is tasked with leading Tantalizers’ transformation into a diversified enterprise with strategic holdings in food, entertainment, and marine industries.

DanBethel’s Managing Director, Tope Fagbamila, expressed optimism about the partnership, stating, “Our team admires the bold leadership of Tantalizers and is excited to contribute to its journey toward new heights.”

Tantalizers stock has soared 276.09% in the last one year.