Tantalizers Plc has signed a preliminary agreement to acquire Karflex Fisheries Limited and Karflex Investment Limited in a strategic move aimed at expanding its operations into Nigeria’s growing blue economy and seafood industry.
The agreement was formalised through a Memorandum of Understanding covering the acquisition of key assets, including 24 fish trawlers and shrimpers, 13 cold storage facilities, and other related fisheries infrastructure.
Following the deal, both parties will begin a comprehensive due diligence process involving legal, financial, technical, operational, environmental, and commercial assessments, with the support of appointed financial advisers.
The acquisition is expected to be integrated into Tantalizers Fisheries Limited, a subsidiary of Tantalizers Plc, as part of its broader diversification into industrial fishing, seafood processing, cold-chain logistics, and export operations.
Tantalizers’ Chairman described the move as a key milestone in the company’s transformation into a food and lifestyle conglomerate, adding that the deal would strengthen its capacity to compete in both local and international seafood markets.
Karflex Fisheries management also expressed confidence in the transaction, noting that Tantalizers’ structure and strategic direction would help unlock greater value from its long-established assets.
The deal is still subject to completion of due diligence and final approval processes.
