Tantalizers Plc has entered into a preliminary agreement to acquire Karflex Fisheries Limited and Karflex Investment Limited in a strategic transaction aimed at strengthening its position in Nigeria’s expanding blue economy and seafood value chain.
The agreement follows a Memorandum of Understanding signed over the weekend, which sets the framework for the acquisition of key operational assets belonging to both companies, including a fleet of 24 fish trawlers and shrimp vessels, alongside 13 cold storage facilities and related fisheries infrastructure. The assets are expected to be consolidated under Tantalizers Fisheries Limited upon completion of the deal.
Brandspur Banking News Desk reports that the transaction marks a significant diversification step for Tantalizers Plc as it continues its transformation into a broader foodtainment and marine-focused conglomerate with interests extending beyond quick service restaurants into industrial-scale fisheries, logistics, processing, and export operations.
Under the terms of the agreement, financial, legal, technical, operational, environmental, and commercial due diligence will be conducted by Tantalizers Fisheries Limited in collaboration with its appointed advisers, GTI Capital and United Capital, before the transaction can be fully concluded.
Chairman of Tantalizers Plc, Alhaji Adam Nuru, represented by Dr. Israel Ovirih, stated that the acquisition aligns with the company’s long-term strategy of expanding into high-value sectors capable of supporting foreign exchange generation, job creation, and national food security objectives.
He noted that the integration of Karflex assets would strengthen Tantalizers’ ambition to build a fully structured fisheries operation capable of competing within both domestic and international seafood markets, while supporting its broader diversification agenda across food, entertainment, hospitality, and allied sectors.
Chairman of Karflex Fisheries, Mr. Wilson Samuel, described the agreement as a positive development, expressing confidence that the transaction would unlock greater commercial value from the company’s existing assets under Tantalizers’ institutional framework and expansion strategy.
He added that stakeholders at Karflex Fisheries remain optimistic that the acquisition process will be completed within the agreed timeline, subject to regulatory approvals, valuation outcomes, and final execution of binding transaction documents.
The deal remains conditional on satisfactory due diligence, negotiation of definitive agreements, and compliance with all regulatory requirements before final completion is confirmed.
