TexStyles Ghana Limited (TSG), one of Ghana’s leading textile manufacturers and producer of the iconic GTP and Woodin brands, is set to enter a new era following its acquisition by a wholly Ghanaian-owned investment firm.
Olive Africa Partners Fashions Ltd, represented by its co-founding partners Mr. Kofi Kwakwa and Mr. John Gadzi, has acquired Vlisco BV’s entire shareholding in TexStyles Ghana Limited, becoming the principal shareholder of the company.
The transaction also includes the transfer of key trademarks associated with the business, notably the GTP and Woodin brands, which have become household names in Ghana and across West Africa.
The development marks a significant shift in ownership for one of the country’s most enduring textile businesses and comes at a time when stakeholders continue to advocate stronger local participation in Ghana’s manufacturing sector.
Under the new ownership structure, TexStyles Ghana Limited will continue operating with its existing management team to ensure business continuity and maintain relationships with employees, distributors, retailers and customers throughout the region.
For the new investors, the acquisition represents both an emotional connection and a strategic commitment to revitalising Ghana’s textile industry.
Speaking on the transaction, Chairman of Olive Africa Partners Fashions Ltd, Mr. Kofi Kwakwa, said the acquisition held personal significance.
“This moment is deeply meaningful to me. My connection to this business goes back many years as a Ghanaian child who watched his mother trade in GTP fabric to support her family. John and I deem it a great honour to take over this historic company and the iconic GTP and Woodin brands and are excited about building on their legacy for the future,” he said.
TexStyles Ghana has remained a major player in Ghana’s textile landscape for decades, producing fabrics widely used across Ghana and other West African markets. Company officials have indicated that manufacturing operations and established distribution channels across the region will be maintained following completion of the transaction.
The outgoing shareholder, Vlisco Group, described the sale as a transition that ensures the continued growth of the business under investors with a deep understanding of the local market.
Chief Executive Officer of Vlisco Group, Perry Oosting, said the company was pleased to hand over ownership to a Ghanaian-led investor group while maintaining a collaborative relationship with TSG.
“We are proud to have held and developed this important business over many years. TexStyles Ghana Limited and its brands are deeply connected to Ghana’s and West Africa’s cultural and textile heritage. We are pleased that the company will continue its journey with a dedicated Ghanaian-based investor who, together with the current management, understands the industry and its potential. We will continue to support and treat this as a partnership going forward,” he stated.
Management of TexStyles Ghana has also welcomed the change in ownership, expressing confidence in the company’s future under the new shareholders.
Managing Director of TSG, Kodwo Agyenim-Boateng, thanked Vlisco for its longstanding support and welcomed the investors.
“We want to thank Vlisco for their support over the many years and are glad to hear that they will continue to treat TSG as a partner going forward. We are also delighted to welcome our new shareholders and look forward to working with them to continue to take the business forward,” he said.
Industry observers are expected to view the acquisition as a notable milestone for local ownership in Ghana’s manufacturing sector.
The transfer of ownership places two of the country’s most recognized textile brands under Ghanaian control while creating opportunities for fresh investment and expansion.
The transaction is expected to become effective in the coming weeks, subject to the fulfilment of all applicable administrative and regulatory requirements.
Olive Africa Partners Fashions Ltd is a Ghanaian investment-holding company focused on the fabrics sector. Chaired by entrepreneur Kofi Kwakwa, the company seeks to promote long-term Ghanaian ownership while investing in operational excellence, institutional governance and growth opportunities across Ghana and other African markets.
Founded in 1846, Vlisco BV produces and markets the internationally renowned Dutch Wax fabrics distributed across West and Central Africa. The company has played a significant role in the development of textile traditions on the continent and has become synonymous with premium wax print fabrics that form part of African cultural expression.
Source: businesspostonline
