Tantalizers Plc, has taken a step of signing a Memorandum of Understanding (MOU) to acquire a marine assets from Karflex Fisheries Limited and Karflex Investment Limited.
The proposed deal includes 24 fish trawlers and shrimpers, 13 cold room facilities, and other related commercial fisheries infrastructure.
Thia acquisition will be integrated into Tantalizers’ subsidiary, Tantalizers Fisheries Limited, adding to the company’s strategic push into industrial fishing, seafood processing, cold-chain logistics, and export operations.
In a bulletin posted on NGX, the company described it as a key part of its diversification strategy aimed at tapping into Nigeria’s marine resources while contributing to food security and foreign exchange earnings.
Speaking at the signing ceremony, Dr. Israel Ovirih, Director representing Tantalizers Plc’s Chairman, Alhaji Adam Nuru, expressed optimism about the transaction:
In his words, “The Board of Tantalizers Plc is pleased with the signing of this MOU and looks forward to the successful completion of the transaction.
This is one of the many strategic mergers and acquisitions undertaken since the acquisition and restructuring of Tantalizers Plc into a Foodtainment Group. Upon completion, the plan is to integrate the assets and operations into Tantalizers Fisheries Limited, resulting in a wholly-owned fishing and trawling business positioned to compete effectively within the local and international seafood market.”
Dr. Ovirih added that the deal aligns with the company’s long-term vision of creating value in sectors that support Nigeria’s food security and generate foreign exchange.
The Chairman, Mr. Wilson Samuel stated that
We are delighted to enter into this MOU with Tantalizers Plc. We believe this transaction represents a significant opportunity to unlock the full commercial value of the assets built over the years by Karflex Fisheries. Tantalizers Plc’s renewed vision, institutional structure, and commitment to the Marine and Blue Economy sector provide strong confidence that the assets will be further expanded and efficiently utilized for sustainable growth.
He further noted that shareholders are excited about the potential for Karflex Fisheries to become a subsidiary of Tantalizers Plc, with expectations that the deal will be completed in record time.
The completion of the transaction is subject to satisfactory due diligence and necessary regulatory approvals.
Administrator and Writer
