Tantalizers Plc, a player in Nigeria’s quick-service restaurant (QSR) sector, has announced the successful acquisition of $25m in fresh capital to drive business expansion.
The announcement was made by the company’s Chairman, Alhaji Adam Nuru, during the Facts Behind the Acquisition event on the floor of the Nigerian Exchange Limited (NGX).
Speaking at the event, Nuru highlighted the company’s commitment to growth, emphasizing that the newly secured capital will be strategically deployed.
“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.
He acknowledged the patience of shareholders, assuring them that the company’s strategic initiatives would soon yield visible results.
“We ask for some time to implement these initiatives and bring them to fruition. Our focus is on delivering excellent results, and I am confident that when we present our figures next quarter, the positive trends will be evident. We look forward to sharing this value with our stakeholders.”
In a bold move to diversify its business portfolio, Tantalizers Plc 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.
Nuru described this expansion as a milestone in the company’s diversification strategy, aimed at tapping into high-growth sectors of the Nigerian economy.
The trawlers, equipped with cutting-edge deep-sea fishing technology, will 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 newly established Tantalizers Fisheries Limited will oversee operations, positioning Nigeria as a key player in the global seafood value chain.
Beyond fleet expansion, Tantalizers Plc has formalized a collaboration with the U.S. fisheries consortium, chaired by Mr. Charles Quinn. With decades of expertise in sustainable fishing, seafood processing, and global distribution, the consortium will provide technical support, operational training, and access to international markets.
The agreement will also facilitate technology transfer and ensure compliance with global best practices in sustainable fishing and seafood processing, strengthening Nigeria’s ability to meet international export standards.
Tantalizers Plc’s Group Managing Director (GMD), Mr Rob Speijer, emphasized the company’s broader vision for transformation, describing the acquisition and partnership as a step toward evolving into a multinational food and entertainment conglomerate.
“This acquisition and partnership will position Tantalizers Plc as a Nigerian multinational, strengthening our footprint as a fully diversified ‘foodtainment’ conglomerate with interests in entertainment, quick-service restaurants, fisheries, seafood processing, and exports,” Speijer stated.
He further explained that while Tantalizers has long been recognized as a QSR brand, the company seeks to redefine its image and expand into entertainment, music, and technology, creating a unique and synergized business model.
