Tantalizers Raises $25m For Expansion

Tantalizers Plc has secured $25 million in fresh capital to fund its expansion into fisheries and entertainment, marking a major diversification move beyond its traditional quick-service restaurant (QSR) business.

The company’s Chairman, Alhaji Adam Nuru, announced the development during the ‘Facts Behind the Acquisition’ event at the Nigerian Exchange Limited (NGX).

He described the investment as the first phase of a broader growth strategy, assuring shareholders that the newly raised funds would be strategically deployed to strengthen operations. He also expressed confidence that the financial impact of these initiatives would become evident in the next quarter.

As part of its expansion, Tantalizers is entering Nigeria’s blue economy through the acquisition of 10 advanced trawlers and a strategic partnership with a U.S.-based marine consortium. The company said the trawlers, equipped with deep-sea fishing technology, would support Nigeria’s seafood industry and enhance the country’s role in the global seafood value chain. Under a Memorandum of Understanding (MoU) with its U.S. partners, the vessels are expected to arrive from Honduras and New Bedford, USA, by May 2025.

To oversee its new fisheries venture, Tantalizers has established Tantalizers Fisheries Limited, which will manage seafood processing and distribution. The company’s partnership with the U.S. consortium, chaired by Mr. Charles Quinn, includes technical training, operational support, and market access for Nigerian seafood exports. The agreement also facilitates technology transfer and ensures compliance with global standards for sustainable fishing practices.

In addition to fisheries, Tantalizers is also venturing into the entertainment industry as part of its ambition to become a multinational “foodtainment” conglomerate. Group Managing Director, Mr. Rob Speijer, explained that while Tantalizers is widely known for its QSR brand, it is now looking to integrate food, entertainment, and technology into a unified business model.