Tantalizers Plc Signs Fisheries MOU to Acquire Karflex Assets

Tantalizers Plc announced on 21 May 2026 that it has signed a Memorandum of Understanding with Karflex Fisheries Limited and Karflex Investment Limited for the proposed acquisition of significant fisheries and marine assets. The assets covered under the MOU include twenty-four fish trawlers and shrimpers, thirteen cold room facilities, and associated commercial fisheries infrastructure.

The transaction is intended to be executed through Tantalizers Fisheries Limited, a subsidiary of Tantalizers Plc. Under the MOU, Tantalizers Fisheries Limited and its appointed advisers are required to conduct comprehensive legal, financial, technical, operational, environmental, and commercial due diligence on the target companies within an agreed timeline.

The company described the move as part of its strategic diversification into Nigeria's blue economy and commercial seafood sector, with planned activities covering industrial fish trawling, shrimping, seafood processing, cold-chain logistics, and export operations. Karflex Fisheries Chairman Wilson Samuel indicated that Karflex shareholders anticipate the transaction being completed in record time.

Completion of the transaction remains subject to satisfactory due diligence, asset valuation, execution of definitive transaction documents, regulatory approvals, and satisfaction of agreed conditions precedent. No transaction value was disclosed in the filing.