GTP, Woodin enter new era as TexStyles Ghana comes under local ownership

TexStyles Ghana Limited, the producer of GTP and Woodin brand fabrics, is undergoing a significant transformation as Ghanaian ownership takes the helm. The company has been acquired by Olive Africa Partners Fashions Ltd, a wholly-owned Ghanaian investment firm led by co-founders Kofi Kwakwa and John Gadzi. This acquisition includes Vlisco BV's entire shareholding in TexStyles Ghana, as well as the transfer of the company's trademarks, including the GTP and Woodin brands, which have long been emblematic of Ghana's textile and fashion heritage.

Kofi Kwakwa, Chairman of Olive Africa Partners Fashion, emphasized the deep personal connection to the business, stating, "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." The new owners view the acquisition as both a strategic move in Ghana's textile industry and a proud moment in their personal histories.

TexStyles Ghana, a stalwart in Ghana's textile industry for decades, will continue its operations in the country, maintaining its existing distribution network across West Africa. The company's CEO, Kodwo Agyenim-Boateng, expressed optimism about the transition, thanking Vlisco for their support and looking forward to working with the new shareholders to build on the legacy of the GTP and Woodin brands.

Vlisco Group CEO Perry Oosting welcomed the acquisition, noting the company's "deep connection to Ghanaian and West African cultural heritage." He expressed satisfaction that TexStyles Ghana will continue its journey under the stewardship of a dedicated Ghanaian investor and the current management team. The transaction is expected to conclude within weeks, pending completion of administrative and regulatory requirements.