Ghanaian investment firm Olive Africa Partners Fashions has acquired TexStyles Ghana, the company behind two of Ghana’s best-known textile brands, GTP and Woodin. The acquisition gives the Ghanaian-owned investment company full ownership of TexStyles Ghana after buying the entire shareholding held by Dutch textile group Vlisco BV.

The deal was led by Kofi Kwakwa, a veteran investor and former Partner at Africa Capital Alliance, the West Africa-focused private equity firm. Kwakwa is a seasoned dealmaker with more than three decades of experience across private equity, investment banking and corporate finance. He previously helped lead investments across Ghana and other African markets during his time at Africa Capital Alliance.

He now serves as Chairman of Olive Holdings, the investment holding company behind Olive Africa Partners Fashions, which he co-founded with John Gadzi.

GTP and Woodin return to Ghanaian ownership

The acquisition marks a new chapter for GTP and Woodin, two brands with deep roots in Ghana’s textile industry. GTP has been part of Ghana’s textile sector since 1966. Woodin later became one of the country’s most recognisable fashion and lifestyle textile brands. Both brands have built strong connections with Ghanaian fashion, culture and ceremonial wear over the decades.

Under the new ownership, Olive Africa Partners Fashions will control TexStyles Ghana as well as the trademarks associated with GTP and Woodin.

For Kwakwa, the acquisition also has a personal connection. His relationship with GTP dates back to childhood. He has said he watched his mother trade GTP fabric to support the family. Kwakwa described taking ownership of the company and its brands as an honour. He said he and Gadzi intend to build on the legacy of GTP and Woodin.

A dealmaker moves into textiles

The acquisition adds a major consumer and manufacturing business to Kwakwa’s investment track record. During his time at Africa Capital Alliance, Kwakwa worked on private equity investments across West Africa. His career has also included senior investment roles at Standard Bank Group and the establishment of Sagevest Holdings.

His move into TexStyles reflects a broader approach at Olive Holdings, which invests in established African businesses with room for long-term growth. Rather than starting a new textile company, the investment gives the firm control of an established business with recognised brands, an existing customer base and decades of operating history.

Vlisco exits TexStyles Ghana

The transaction ends Vlisco BV’s ownership of TexStyles Ghana. Vlisco has been associated with the Ghanaian textile company for years. The Dutch group said GTP and Woodin have deep connections to Ghana and West African textile heritage. The group welcomed the transition to Ghanaian ownership and said it would continue to support TexStyles Ghana as a partner.

TexStyles Ghana will continue operating under its existing management following the acquisition. The company will also maintain its relationships with employees, distributors, retailers and customers across Ghana and other West African markets. Managing Director Kodwo Agyenim-Boateng welcomed the new shareholders and said the company looks forward to working with them to grow the business.

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