A player in Nigeria’s Quick-Service Restaurant (QSR) sector, Tantalizers Plc, has secured $25million capital to expand its operations especially in Nigeria’s blue economy.
Already, the company has ventured into Nigeria’s blue economy with the acquisition of 10 state-of-the-art trawlers and a strategic partnership with a U.S.-based marine consortium.
The trawlers, equipped with cutting-edge deep-sea fishing technology is expected to enhance Nigeria’s seafood industry.
Under a recently signed Memorandum of Understanding (MoU) between Tantalizers Plc and the U.S. consortium, the trawlers will be delivered from their current bases in Honduras and New Bedford, USA, by May 2025.
The company’s Chairman, Alhaji Adam Nuru, explained this on Thursday during the Facts Behind the Acquisition event on the floor of the Nigerian Exchange Limited (NGX).
Nuru said: “We have raised fresh capital, which will be invested in the business. We are very confident that this is just the first round. Regarding the vessels we have purchased, it is a partnership with well-established companies based in the United States,” Nuru stated.
The Group Managing Director, Tantalizers Plc, Mr. Robert Speijer said“This transformation shall be driven by strategic acquisitions (M&As), sector diversification, and deliberate corporate actions designed to unlock new revenue streams, enhance profitability, and position the company for long-term sustainability in Nigeria’s evolving economic landscape.
“The fisheries and aquaculture industry is a vital component of global food security, economic development, and employment. As the world’s demand for seafood continues to rise, the industry value sours. Tantalizers is positioning itself as a major player in the Blue Economy,” Speijer said
Also speaking at the event, the Chief Executive Officer, Nigerian Exchange Limited, Mr. Jude Chiemeka, noted that the company holds a unique position as the only listed quick service restaurant offering company within the hospitality subs-sector on the Exchange.
Chiemeka added that, “With a market capitalisation of over N14.3 billion, the company maintains a distinct presence in the industry. This acquisition is not just a milestone for Tantalisers, it signals broader economic implications reinforcing Nigeria’s evolving business landscape and strengthening the value chain of the services sector.
“The services sector is a really strong sector. Tantalisers holds within the hospitality subsector of the services sector. The services sector itself, Q3 2024, contributed 58per cent of our GDP. So that defines really the strength of that sector.”
