Tantalizers Plc (NGX: TANTALIZER) has announced the signing of a landmark five-year tripartite Offtake Agreement with its owned subsidiary, Tantalizers Fisheries Limited, and Harvester Fisheries LLC, a U.S.-based seafood importer and distributor headquartered in New Bedford, Massachusetts.
This was disclosed in a regulatory filing on Friday signed by Olamide Badawale-Mo, the Company Secretary.
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Under the agreement, Tantalizers PLC and Tantalizers Fisheries Limited (the Sellers) will supply Harvester Fisheries LLC (the Buyer) with agreed minimum annual quantities of wild caught tiger prawns and pure shrimps over a five-year period. The deal, valued in multi-million U.S. dollars, represents a major step in Tantalizers’ strategic expansion into the global seafood export market.
Tantalizers Fisheries Limited, which operates within a designated Free Trade Zone in Nigeria, is a fully export-oriented enterprise engaged in the harvesting, trawling, processing, and exportation of wild-caught shrimp and prawn products in compliance with global quality and food safety standards. The company’s operations are designed to meet international demand for sustainable and traceable marine products.
Speaking on the development, Robert Speijer, the Group Managing Director of Tantalizers PLC, stated:
“This agreement marks a significant milestone in our diversification strategy and underscores Tantalizers’ evolution from a purely quick service restaurant brand into a global food, retail, and entertainment group with a strong export footprint. The partnership with Harvester Fisheries LLC strengthens our global supply chain integration and positions Nigeria as a credible source of high-quality seafood for the North American market.”
Harvester Fisheries LLC, based in New Bedford, Massachusetts — one of America’s largest fishing ports — specializes in the importation and distribution of high-grade seafood products to retail chains, restaurants, and institutional buyers across North America. The company has expressed strong confidence in Tantalizers Fisheries’ production capacity, quality assurance systems, and adherence to international regulatory standards.
The agreement following extensive negotiations and due diligence by both parties, culminates in a shared commitment to sustainable growth and cross-border partnership and also supports Tantalizers’ broader objective of contributing to Nigeria’s non-oil export growth and blue economy development.
About the Company
Tantalizers Plc was incorporated in 1997 as a Private Limited Company domiciled in Nigeria. The status of the company changed to a Public Limited Company (PLC) on 23rd April 2008, and its shares were subdivided into 50 kobo shares from the original ₦1.
The shares became quoted on the Nigerian Stock Exchange on 23rd June 2008. The principal activities of the entity are provision of quick service restaurant and outdoor catering services.
Tantalizers Plc in March, announced its expansion into Nigeria’s blue economy sector with the acquisition of 10 fully equipped modern trawlers and the signing of a landmark partnership agreement with a renowned US-based marine Group and Consortium led by Mr. Charles Quinn, the Consortium Chairman.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
