TexStyles Ghana Limited (TSG), producer of the iconic GTP and Woodin brands, is set to enter a new chapter under Ghanaian ownership.

Olive Africa Partners Fashions Ltd, a wholly owned Ghanaian investment company, has acquired Vlisco BV's entire shareholding in TexStyles Ghana Limited, along with the Woodin brand.

The transaction also includes the transfer of the company's trademarks, including the GTP and Woodin brands, which have played a significant role in Ghana’s textile and fashion heritage.

Olive Africa Partners Fashions is represented by its co-founding partners, Kofi Kwakwa and John Gadzi. The acquisition makes the company the principal shareholder of TexStyles Ghana Limited.

The company will continue operating in Ghana under its current management structure. This is expected to ensure continuity in its relationships with employees, distributors, retailers and customers.

For the new owners, the acquisition represents both a strategic investment in Ghana’s textile industry and a personal milestone.

“This moment is deeply meaningful to me,” said Kofi Kwakwa, Chairman of Olive Africa Partners Fashion.

“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.”

TexStyles Ghana has operated in Ghana’s textile industry for decades, producing fabrics sold across the country and the wider West African region.

The company said it will maintain its operations in Ghana and continue serving customers through its existing distribution network across West Africa.

Vlisco Group CEO Perry Oosting welcomed the acquisition, saying the company’s brands remain deeply connected to Ghanaian and West African cultural heritage.

“We are proud to have held and developed this important business over many years,” he said.

“TexStyles Ghana Limited and its brands are deeply connected to Ghana’s and West African 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.”

Managing Director of TexStyles Ghana, Kodwo Agyenim-Boateng, also expressed optimism about the transition.

“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.

The transaction is expected to take effect in the coming weeks, subject to the completion of applicable administrative and regulatory requirements.