Ghanaian Investment Firm acquires texstyles Ghana, takes over GTP, Woodin brands

TexStyles Ghana Limited (TSG), the company behind two of Ghana’s most iconic textile brands, GTP and Woodin, is set to enter a new chapter following the acquisition of its shares by Ghanaian-owned investment firm Olive Africa Partners Fashions Ltd.

Olive Africa Partners Fashions, represented by its co-founding partners Kofi Kwakwa and John Gadzi, has acquired Vlisco BV’s entire shareholding in TexStyles Ghana Limited, along with the Woodin brand and trademarks associated with the company.

The transaction makes Olive Africa Partners Fashions the principal shareholder of TSG and marks a significant shift towards Ghanaian ownership of a major player in the country’s textile industry.

Despite the change in ownership, TexStyles Ghana will retain its existing management structure as the company seeks to ensure continuity in its operations and relationships with employees, distributors, retailers and customers.

Kofi Kwakwa, Chairman of Olive Africa Partners Fashions, described the acquisition as both a personal milestone and a strategic investment in Ghana’s textile industry.

“This moment is deeply meaningful to me,” Mr Kwakwa said, recalling his childhood experience of watching his mother trade in GTP fabrics to support her family.

He said he and Mr Gadzi considered it an honour to take over the historic company and its GTP and Woodin brands, adding that they were committed to building on the brands’ legacy.

TexStyles Ghana has been a major participant in Ghana’s textile industry for decades, producing fabrics that have become an important part of Ghanaian fashion and cultural identity.

Its products have also gained a strong market presence across West Africa through an established distribution network.

Under the new ownership, the company will continue manufacturing and operating in Ghana while serving its existing customers and markets across the sub-region.

Perry Oosting, Chief Executive Officer of Vlisco Group, said the company was proud of its contribution to TexStyles Ghana over the years and expressed confidence in the new ownership.

He said TSG and its brands remained deeply connected to the cultural and textile heritage of Ghana and West Africa.

Mr Oosting further indicated that Vlisco would continue supporting TexStyles Ghana and regarded the new relationship as a partnership.

The Managing Director of TexStyles Ghana Limited, Kodwo Agyenim-Boateng, welcomed the new shareholders and expressed appreciation to Vlisco for its support over the years.

He said the management was looking forward to working with the new owners to strengthen the business and take the company forward.

The acquisition is expected to become effective in the coming weeks, subject to the completion of all applicable administrative and regulatory requirements.

Olive Africa Partners Fashions, chaired by entrepreneur Kofi Kwakwa, is an investment-holding company focused on the fabrics sector.

The company says its strategy is centred on long-term Ghanaian ownership, strong corporate governance, operational excellence and investment aimed at expanding businesses in Ghana and other African markets.

The acquisition of TexStyles Ghana and its iconic brands therefore positions the company for a new phase of locally driven ownership while preserving its longstanding role in Ghana’s textile and fashion industry.

Story by: Joshua Kwabena Smith