Tantalizers Plc has announced the acquisition of Grand Media Projects Limited, an entertainment company founded by renowned TV and film veteran Tade Ogidan.
This was revealed in a disclosure published by the company on the NGX on May 17, 2025, and signed by the company’s secretary, Olamide Babawale-Mo.
According to the release, this acquisition will allow Tantalizers to expand beyond the food sector and venture into the entertainment and digital content development industry.
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Commenting on the company’s growth strategy and the rationale behind the acquisition, Tantalizers stated:
“As Nigeria’s entertainment industry gains increasing global recognition, this acquisition marks an important step toward expanding the company’s reach and positioning it for future growth.”
This disclosure follows a series of acquisitions that began in the fourth quarter of 2024, including the purchase of Apapa-based DanBethel Marine and 10 fully equipped fishing trawlers from U.S.-based Quinn Fisheries and Harvester Fishing.
Executive comments:
Commenting on the development, Tantalizers Plc Chairman, Alhaji Adam Nuru, highlighted the growing convergence of food and entertainment:
“Our acquisition of Tade Ogidan’s Grand Media marks a bold leap into content development, branded experiences, and event activation. The increasing overlap between food, lifestyle, and entertainment presents a tremendous opportunity for us to deliver significant value to our brand and stakeholders.”
Tade Ogidan, Chairman of Grand Media, shared his excitement about the acquisition, saying, “We’re thrilled about the creative possibilities this acquisition unlocks. We’re confident it will create lasting value for Nigerians and the world at large.”
He also expressed his expectations for the future, stating, “Tantalizers’ tech-driven entertainment platform is a forward-thinking initiative that will be a game changer in the industry.”
Backstory
In March 2025, Tantalizers Plc announced a partnership with U.S.-based marine group Quinn Fisheries and Harvester Fishing for the acquisition of 10 fully equipped fishing trawlers.
According to the company, this move was part of its plan to explore opportunities within Nigeria’s blue economy and expand into other sectors of the business landscape.
This followed an earlier acquisition in December 2024, when the company purchased all assets of DanBethel Marine Services Limited, a marine and fishing business based in Apapa with an existing fleet and related equipment.
These developments reflect a shift in Tantalizers’ business strategy toward diversification, including interests in food, lifestyle, and entertainment.
Tantalizers’ recent acquisition moves follow a N1 billion private equity injection in the fourth quarter of 2024 from Messrs Food Specialties and Banklink Africa Private Equities, who now hold a majority stake in the business.
Market trend:
Tantalizers Plc, currently priced at N2.30, has shown a year-to-date performance of 12.2% so far in 2025.
- The stock started the year at N2.05, briefly rising above N2.40 before closing January at N2.14.
- February ended on a down note at N1.90. However, March saw a notable surge, with the share price soaring to N2.90, supported by a market volume of 317 million shares.
- In April, the stock saw a decline to N2.33.
- As of May 16, 2024, Tantalizers’ shares are trading around the N2.30 mark.
The market’s reaction to this recent acquisition might drive the company’s shares above the N2.30 level in the upcoming trading sessions.
