Tantalizers eyes slice of $2.5tn global blue economy with trawler acquisition, US partnership

Tantalizers Plc, a quick-service restaurant (QSR) company in Nigeria, has announced a strategic move into Nigeria’s blue economy sector, acquiring trawlers and partnering with the United States. The global blue economy is worth 2.5 trillion annually.

In a statement on the Nigerian Exchange Group, the company disclosed that it acquired 10 fully equipped modern trawlers and entered into a partnership agreement with a renowned US-based marine Group and Consortium led by Charles Quinn, the Consortium Chairman.

This initiative aligns with Tantalizers Plc’s ongoing diversification strategy to capitalise on new growth opportunities within critical sectors of the Nigerian economy.

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“The acquisition of these 10 trawlers, equipped with advanced technology for deep-sea fishing, signifies a major step for the company into the Blue Economy Space, a sector increasingly recognised globally for its potential for sustainable economic development,” the statement said.

Charlie Quinn, chairman of Quinn Fisheries said “Nigeria has always been on our mind as a good source of protein for the American market, this partnership and delivery of initial 10 trawlers provides us with a strong foothold into the rich aquatic resources in the West African Ocean.

According to the Memorandum of Understanding (MOU) executed between Tantalizers Plc and the Consortium, these vessels are scheduled for delivery to Nigeria from their current locations in Honduras and New Bedford, USA by May 2025.

The newly formed Tantalizers’ subsidiary, Tantalizers Fisheries Limited, will deploy these trawlers to enhance commercial fishing operations and strengthen Nigeria’s position in the global seafood value chain.

Furthermore, Tantalizers has formalised a strategic MOU with the American fisheries consortium, which possesses decades of experience in sustainable fishing, seafood processing, and the global distribution of various seafood products like prawns, shrimps, and scallops.

The statement said that this MOU establishes a framework for technical collaboration, operational capacity building, and access to export markets, all aimed at bolstering Tantalizers’ position in the developing Nigerian Blue Economy space.

The partnership will also facilitate technology transfer, adherence to global best practices in sustainable fishing, and compliance with international seafood processing standards, ensuring that Nigerian seafood products meet global export requirements.

Rob Speijer, the group managing director (GMD) of Tantalizers Plc, signed the MOU on behalf of the company at a ceremony in New Bedford, Massachusetts, USA.

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He stated that “this acquisition and partnership will transform Tantalizers Plc into a Nigerian multinational and deepen our in-road to a fully diversified “foodtainment conglomerate” with interests spanning entertainment, quick-service restaurant chain, fisheries, seafood processing and export”.

Tantalizers also disclosed that it has initiated preparatory work for establishing a world-class seafood processing and cold chain facility in Nigeria to support its deep-sea fishing operations.

“This facility will be crucial for ensuring value addition, quality control, and product traceability, all of which are essential for accessing premium export markets in Europe, Asia, and North America,” the statement said.