• New investors lay out growth plan
Tantalizers Plc plans to significantly expand its businesses within the next two years with a target to reverse current loss of N265 million to net profit of N16.1 billion by 2026.
The new board and management of Tantalizers yesterday at a “Facts Behind the Acquisition” forum at Nigerian Exchange (NGX) in Lagos laid out the company’s strategic growth plan to diversify from its current quick service restaurant business into fishery, entertainment and technology among others.
The “Facts Behind the Acquisition” was to intimate the investing public about the changes in ownership structure and the strategic focus of the company.
Chairman, Tantalizers Plc, Alhaji Adam Nuru, said the company has started implementing a transformative plan that would see it emerging as a “foodtainment” group, rebuilding its existing food businesss and diversifying further into other areas.
He said the group’s financial targets, though challenging, are realistic and would be achieved in full.
According to him, the group’s bold transformation plan would be driven by strategic acquisitions, sectoral diversification, and several corporate initiatives aimed at unlocking new revenue streams, enhance profitability, and position the company for long-term sustainability in Nigeria’s evolving economic landscape.
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Citing the company’s recent expansion into Nigeria’s blue economy sector with the acquisition of 10 fully equipped modern trawlers and the signing of partnership agreement with United States-based marine group, Nuru said the company’s ongoing diversification strategy is aimed at leveraging new growth opportunities across critical sectors of the Nigerian economy.
He pointed out that the acquisition of a major stake in Tantalizers reflected the belief in the long-term potential of the company as well as the general outlook for the Nigerian economy.
“The acquisition is more than a transaction. It’s a strategic investment in growth, innovation, sustainability, and it strengthens our position, expands our reach, and reinforces our commitment to delivering value to shareholders, consumers and stakeholders who are here with us today.
“To all of you who analyze trade and shape the movement of stocks, I want to assure you that we are building a company that is strong, forward looking and ready to recapitalize on opportunities by consolidating on the past, breaking new frontiers and the evolving food industry.
“I encourage you to keep a close eye on our journey. I solicit your very important support to work together to unlock the potential that this new chapter brings,” Nuru said.
Group Managing Director, Tantalizers Plc, Mr. Robert Speijer, who presented the company’s business and financial forecasts, said total revenue would rise from N1.2 billion in 2024 to N17.4 billion and N48.58 billion in 2025 and 2026 respectively.
According to the projections, from a loss after tax of N265 million in 2024, net profit is expected to rebound to N4.18 billion this year and quadrupled to N16.1 billion by 2026. Total assets is projected to rise from N2.29 billion in 2024 to N22 billion by 2026.
Speijer said Tantalizers was committed to repositioning itself as a dynamic, high-value stock on the Nigerian Exchange (NGX), with bold, clearly defined objectives to elevate its profile, enhance liquidity, and maximize shareholder value.
“The fisheries and aquaculture industry is a vital component of global food security, economic development, and employment. As the world’s demand for seafood continues to rise, the industry value sours. Tantalizers is positioning itself as a major player in the Blue Economy,”Speijer said.
Chief Executive Officer, Nigerian Exchange (NGX), Mr. Jude Chiemeka, said that the company holds a unique position as the only listed quick service restaurant offering company within the hospitality subs-sector on the Exchange.
According to him, with a market capitalisation of over N14.3 billion, the company maintains a distinct presence in the industry.
Chiemeka said the acquisition was not just a milestone for Tantalisers, it signaled broader economic implications reinforcing Nigeria’s evolving business landscape and strengthening the value chain of the services sector.
“The services sector is a really strong sector. Tantalisers holds a major position within the hospitality subsector of the services sector. The services sector itself, by third quarter 2024, contributed 58 per cent of our Gross Domestic Product (GDP), so that defines really the strength of that sector,” Chiemeka said.