Tantalizers PLC Acquires Nigeria's Largest Fisheries Firm

Tantalizers PLC (NGX: TANTALIZER) announced a preliminary agreement to acquire Karflex Fisheries Limited, Nigeria's largest indigenous fisheries group, in a significant move to deepen its diversification strategy within Nigeria's blue economy. The memorandum of understanding was disclosed in a statement on Sunday.

The acquisition will integrate substantial fish assets, including 24 fish trawlers, 13 cold room facilities, and related commercial fisheries infrastructure. Tantal Fisheries Limited, a subsidiary of Tantalizers, plans to explore emerging opportunities in Nigeria's maritime sector.

The chairman of Tantalizers, Alhaji Adam Nuru, expressed optimism about the transaction, which is part of a broader strategy to enhance the company's long-term value creation. Wilson Samuel, chairman of Karflex Fisheries, also expressed excitement about the deal, which is subject to satisfactory due diligence and regulatory approvals.

The acquisition is expected to position Tantalizers competitively within local and international seafood markets and contribute to Nigeria's food security.