Tantalizers indicators MoU to amass Apapa-based DanBethel Marine, reveals growth plans 

Tantalizers Plc has introduced the signing of a Memorandum of Understanding (MoU) to amass all property of DanBethel Marine Providers Restricted, an Apapa-based marine and fishing enterprise.

This follows Tantalizers’ latest announcement of a N1 billion non-public fairness injection by Messrs Meals Specialties and Banklink Africa Non-public Equities, which collectively acquired a majority stake within the firm.

In mild of the latest N1 billion capital injection, Tantalizers introduced on December 28, 2024, by means of an NGX disclosure, its determination to amass all property of DanBethel Marine Providers Restricted.

In keeping with the announcement on the NGX platform, this deliberate acquisition aligns with Tantalizers’ technique to increase into the blue financial system, with a specific give attention to the seafood business.

The assertion highlights the corporate’s intention to have interaction in industrial fish trawling, aquaculture, mariculture, seafood provides, and associated marine operations.

Commenting on the MoU signing, Tope Fagbamila, MD/CEO of DanBethel, expressed enthusiasm, stating, “Our crew admires the braveness and capability of the brand new Tantalizer’s management and are excited to be a part of pivoting the corporate to a brand new top.”  

Adam Nuru, Chairman of Tantalizers Plc, echoed this sentiment, including, “DanBethel’s acquisition is a wonderful strategic match for us as we additional make investments over the subsequent 5 years within the firm’s fleet to seize vital alternatives within the largely unexplored Nigerian fishing and aquaculture business.” 

About DanBethel Marine Providers 

• Apapa-Lagos-based DanBethel Marine Providers is understood for its fleet of fishing trawlers and associated marine property. Over time, it has constructed a notable presence in Nigeria’s home seafood provide market.
• As demand for more healthy protein sources and extra sustainable meals programs continues to rise, the MoU settlement supplies Tantalizers with a possibility to discover new enterprise segments within the marine business.
• DanBethel’s a long time of expertise in fish trawling and processing might assist Tantalizers Plc faucet into broader alternatives in seafood manufacturing, provide chain integration, and value-added aquaculture processes.

Market efficiency of Tantalizers 

Tantalizers has recorded a year-to-date (YTD) progress of 266% within the Nigerian inventory marketplace for 2024.

• The share value opened at N0.47 and moved upward by means of mid-year, with a extra pronounced rise beginning in August.
• From January to October, the pattern remained optimistic, then picked up tempo in November doubtless following the announcement of a N1 billion non-public fairness injection—leading to a share value enhance from N0.64 to over N1.70 by year-end.

In keeping with the corporate, the capital injection goals to handle longstanding monetary points and assist reposition Tantalizers for the long run.

• The capital was supplied by Messrs Meals Specialties and Organics Restricted, together with Banklink Africa Non-public Equities Restricted, each of which acquired a majority stake within the firm.