Olive Africa Partners Fashions Limited, a Ghanaian investment company, has become the principal shareholder of Tex Styles Ghana Limited (TSG) following its acquisition of Vlisco’s entire shareholding in the company, together with the Woodin brand.
The acquisition, announced in a press statement issued by the company and copied to The Ghanaian Times, also included the transfer of trademarks associated with the company, notably the GTP and Woodin brands.
Tex Styles Ghana Limited was co-founded by Mr Kofi Kwakwa and Mr John Gadzi.
The company said it would continue its operations in Ghana under its current management structure to ensure continuity following the acquisition.
It said the acquisition represented both a personal milestone and a strategic investment in Ghana’s textile sector.
“This moment is deeply meaningful to me. 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,” the Chairman of Olive Africa Partners Fashions, Mr Kofi Kwakwa, said.
The statement further highlighted the role played by Tex Styles Ghana Limited, which has remained central to the country’s textile industry over the past decades, including the production of fabrics widely worn across Ghana and the West African sub-region.
It added that the company would continue to serve its long-standing patrons and customers through its existing distribution network across the sub-region.
“We are proud to have held and developed this important business over many years. Tex Styles Ghana Limited and its brands are deeply connected to Ghana’s and West African cultural and textile heritage,” the Chief Executive Officer (CEO) of Vlisco Group, Mr Perry Oosting, said.
“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,” he added.
The Managing Director of TSG, Mr Kodwo Agyenim-Boateng, thanked Vlisco for its support over the years and pledged to work with the company to take the business to greater heights.
BY TIMES REPORTER
