TexStyles Ghana set for new era under Ghanaian ownership

TexStyles Ghana, a leading textile manufacturer in Ghana and the producer of popular brands GTP and Woodin, is on the brink of a new era under Ghanaian ownership. Olive Africa Partners Fashions, a wholly Ghanaian-owned investment company co-founded by Mr. Kofi Kwakwa and Mr. John Gadzi, has acquired full control of Vlisco BV's stake in TexStyles Ghana, along with the Woodin brand.

Consequently, Olive Africa Partners Fashions has become the primary shareholder of TSG, securing ownership of the company's trademarks, namely the GTP and Woodin brands, which hold significant importance in Ghana's textile heritage and fashion scene.

TexStyles Ghana Limited will continue its operations in Ghana, overseen by its existing management team, to guarantee the smooth continuation of the company's activities and maintain relationships with employees, distributors, retailers, and customers. For Olive Africa Partners Fashions, this acquisition signifies both a personal achievement and a strategic investment in Ghana's thriving textile industry.

TexStyles Ghana has been an integral part of the nation's textile sector for many years, manufacturing fabrics that are widely utilized across Ghana and the wider West African region.

With the acquisition in place, TexStyles Ghana will retain its operations within Ghana, continuing to cater to its long-standing patrons and customers through its established distribution network across the West African region. Managing Director of TexStyles Ghana, Kodwo Agyenim Boateng, expressed gratitude to Vlisco BV for their support throughout the years and shared their pleasure at learning that Vlisco will continue to regard TexStyles Ghana as a valued partner moving forward.

The transaction is anticipated to be finalized within the coming weeks, contingent on the fulfillment of all necessary administrative and regulatory prerequisites. This acquisition marks a crucial milestone for Ghana's textile industry, as it brings one of the country's most iconic textile businesses and its heritage brands under Ghanaian ownership.