Tantalizers Plc has finalized a five-year offtake contract between its subsidiary, Tantalizers Fisheries Limited, and United States-based seafood importer Harvester Fisheries LLC, marking a significant milestone in the company’s strategic expansion into the global seafood export industry.
In a disclosure submitted to the Nigerian Exchange and endorsed by the Company Secretary, the agreement mandates that Tantalizers Fisheries supply minimum yearly volumes of wild-caught tiger prawns and premium shrimps to Harvester Fisheries, headquartered in Massachusetts. Tantalizers described the deal as a multi-million-dollar partnership that reinforces its ambition to penetrate international markets.
Addressing the agreement, the Group Managing Director, Robert Speijer, noted that the alliance boosts Tantalizers’ global supply chain operations and positions Nigeria as a dependable source of high-quality seafood for buyers across North America. Harvester Fisheries, located in New Bedford, Massachusetts—one of the busiest fishing hubs in the United States—provides top-tier seafood to retail chains, restaurants, and institutional clients across the region.
Tantalizers Fisheries, operating within a Nigerian Free Trade Zone as a fully export-driven enterprise, focuses on harvesting, trawling, processing, and exporting wild-caught prawns and shrimps in compliance with global quality and food safety benchmarks.
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This development coincides with Tantalizers Plc’s strong financial rebound in the first nine months of 2025. The company announced a pretax profit of N41.1 million, marking a substantial recovery from the N259.5 million loss recorded in December 2024. Revenue for the period reached N2.05 billion, primarily fueled by franchise-operated locations, which contributed N1.1 billion, while company-managed outlets accounted for N945.2 million.
Although gross profit slipped to N310.4 million compared with N425.1 million in 2024, the company benefited from stricter cost management and enhanced operational efficiency. Other income increased to N159 million, driven by franchise and rental earnings. Distribution operations transitioned from a loss to a profit, administrative expenses dropped considerably, and write-backs offered further relief.
These gains helped the company reduce its operating loss to merely N189,152—a remarkable improvement from the N189.9 million loss reported at the close of the previous year. The company also shifted from a net finance cost to a N41.3 million gain, bolstering overall profitability.
For Nigeria’s MSME landscape, the Tantalizers–Harvester partnership underscores the opportunities within the agro-processing and seafood value chains for export expansion. It highlights how strengthened standards, strategic alliances, and efficient operations can unlock international markets for locally sourced products.
