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

TexStyles Ghana Limited, known for the GTP and Woodin brands, is undergoing a significant transformation under local ownership. Ghanaian investment firm Olive Africa Partners Fashions Ltd has acquired Vlisco BV’s entire stake in TexStyles Ghana Limited, including the iconic brands. The purchase includes the trademarks GTP and Woodin, integral to Ghana’s textile and fashion legacy.

The deal is led by the company's co-founders, Kofi Kwakwa and John Gadzi. The newly acquired enterprise will retain its management team, ensuring the continuity of operations and relationships with staff, distributors, retailers, and customers. For the investors, this purchase symbolizes a significant investment in Ghana’s textile sector and a personal milestone, as it holds special significance to the Kwakwa family, who have a long history with GTP fabric.

Both Kwakwa and Gadzi expressed their enthusiasm about continuing the legacy of TexStyles Ghana and the GTP and Woodin brands. The new ownership structure will maintain the company's operations in Ghana, serving customers through its extensive distribution network across West Africa. Vlisco Group CEO Perry Oosting applauded the acquisition, emphasizing the enduring connection between Vlisco’s brands and Ghanaian and West African cultural heritage.

Oosting expressed satisfaction that the company will continue under Ghanaian leadership. TexStyles Ghana's Managing Director, Kodwo Agyenim-Boateng, welcomed the transition, praising Vlisco’s ongoing support and expressing enthusiasm for the future trajectory of the business with its new shareholders. The transaction, pending completion of administrative and regulatory procedures, is anticipated to be finalized in the coming weeks.