Tantalizers PLC to Acquire Karflex Fisheries Group

Tantalizers PLC (NGX: TANTALIZER) has reached an agreement to acquire Karflex Fisheries Group, formalized through a memorandum of understanding (MOU). The acquisition will involve significant assets, including 24 fish trawlers and 13 cold room facilities related to commercial fisheries infrastructure.

Tantalizers has appointed GTI Capital as its financial advisor to conduct comprehensive legal, financial, technical, operational, environmental, and commercial due diligence on the target company's assets within an agreed timeline. The signing ceremony was attended by Tantalizers PLC Chairman Alhaji Adam Nuru and Director Dr. Israel Ovirih, who emphasized the strategic importance of this acquisition for diversifying and expanding Tantalizers' operations in Nigeria's blue economy and commercial seafood sector.

The transaction is expected to enhance Tantalizers' competitiveness in both local and international seafood markets, align with its long-term value creation strategy, and contribute to food security in Nigeria. Wilson Samuel, Chairman of Karflex Fisheries Group, expressed excitement about the partnership and the potential for growth.