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By Steve Agbota
Tantalizers Plc has announced the signing of a Memorandum of Understanding (MoU) to acquire all assets of DanBethel Marine Services Limited, a marine and fishing enterprise based in Apapa, Lagos.
DanBethel Marine Services, renowned for its fleet of fishing trawlers and related marine assets, has established a strong presence in Nigeria’s domestic seafood supply market. In line with its recent N1 billion capital injection, Tantalizers confirmed its decision to acquire all assets of DanBethel Marine Services on December 28, 2024, as disclosed on the Nigerian Exchange (NGX).
The acquisition aligns with Tantalizers’ strategy to expand into the blue economy, particularly within the seafood industry. The company aims to engage in industrial fish trawling, aquaculture, mariculture, seafood supplies, and other related marine operations. The Managing Director/Chief Executive Officer of DanBethel, Tope Fagbamila, expressed excitement about the acquisition, saying, “Our team admires the courage and capacity of the new Tantalizers leadership and are excited to be part of pivoting the company to new heights.”
The Chairman of Tantalizers Plc, Adam Nuru, commented, “DanBethel’s acquisition is an excellent strategic fit for us as we continue to invest over the next five years in the company’s fleet to capture significant opportunities in the largely unexplored Nigerian fishing and aquaculture industry.”
He added that the deal is part of the company’s wider vision to diversify and strengthen its presence in the blue economy, offering promising growth prospects for both the company and Nigeria’s marine industry.
