Tantalizers Delves Into Maritime Business, Acquires Shipping Company with Fleet of Fishing Trawlers

Tantalizers Plc has announced the signing of a Memorandum of Understanding (MoU) to acquire all assets of DanBethel Marine Services Limited, an Apapa-based marine and fishing enterprise.

Apapa-Lagos-based DanBethel Marine Services is known for its fleet of fishing trawlers and related marine assets. Over time, it has built a notable presence in Nigeria’s domestic seafood supply market.

In light of the recent N1 billion capital injection into its business, Tantalizers announced on December 28, 2024, through an NGX disclosure, its decision to acquire all assets of DanBethel Marine Services Limited.

According to the announcement on the NGX platform, this planned acquisition aligns with Tantalizers’ strategy to expand into the blue economy, with a particular focus on the seafood industry.

The statement highlights the company’s intention to engage in industrial fish trawling, aquaculture, mariculture, seafood supplies, and related marine operations.

Commenting on the MoU signing, Tope Fagbamila, MD/CEO of DanBethel, expressed enthusiasm, stating, “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.”  

Adam Nuru, Chairman of Tantalizers Plc, echoed this sentiment, adding, “DanBethel’s 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.”