Tantalizers Plc to Acquire DanBethel Marine Services Limited

Tantalizers Plc has signed a Memorandum of Understanding (MoU) to acquire all assets of DanBethel Marine Services Limited, a marine and fishing company based in Apapa, Lagos.

DanBethel Marine Services, known for its extensive fleet of fishing trawlers and related marine assets, has been a significant player in Nigeria’s domestic seafood supply market. Following a N1 billion capital injection, Tantalizers confirmed the acquisition on December 28, 2024, as reported on the Nigerian Exchange (NGX).

This acquisition is part of Tantalizers’ strategy to expand into the blue economy, focusing on industrial fish trawling, aquaculture, mariculture, and seafood supplies. Tope Fagbamila, Managing Director/CEO of DanBethel, expressed enthusiasm about the acquisition, stating, “We admire the new Tantalizers leadership and are excited to be part of the company’s new journey.”

Adam Nuru, Chairman of Tantalizers Plc, commented, “Acquiring DanBethel is a strategic move for us as we plan to invest in the company’s fleet over the next five years, tapping into the opportunities in Nigeria’s fishing and aquaculture industry.”

The deal aligns with Tantalizers’ vision to diversify and strengthen its presence in the blue economy, promising growth for both the company and Nigeria’s marine sector.