Ghanaian investors are set to take over the ownership of two of the country’s most recognised textile brands, GTP and Woodin, following the acquisition of Vlisco’s entire stake in TexStyles Ghana.
The transaction was concluded by Olive Africa Partners Fashions Ltd, a wholly Ghanaian-owned company led by Kofi Kwakwa and John Gadzi.
As part of the acquisition, Olive Africa Partners Fashions Ltd will assume ownership of Vlisco’s interest in TexStyles Ghana, including the GTP and Woodin trademarks.
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The development marks a significant shift in the ownership of the iconic Ghanaian textile brands, which have played a prominent role in the country’s fashion and textile industry over the years.
According to the acquiring company, existing management and operations will continue following the takeover, suggesting that the transition is expected to take place without major disruption to the day-to-day activities of the businesses.
The transaction is expected to take effect in the coming weeks, subject to the completion of the necessary regulatory and administrative requirements.
The acquisition is also expected to place the future of GTP and Woodin under wholly Ghanaian ownership, potentially creating new opportunities for local investment and further development of the brands.
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GTP and Woodin have long been associated with Ghana’s textile and fashion landscape, with their fabrics widely used for traditional and contemporary clothing.
The completion of the transaction will therefore be closely watched by stakeholders in Ghana’s textile, fashion and manufacturing sectors as the brands enter a new phase under local ownership.
