Ghanaian investment firm Olive Africa Partners Fashions has acquired TexStyles Ghana, the company behind two of Ghana’s most recognised textile brands, GTP and Woodin.
The acquisition gives the Ghanaian-owned investment firm full ownership of TexStyles Ghana following the purchase of the entire shareholding previously held by Dutch textile group Vlisco BV.
The transaction was led by Kofi Kwakwa, a veteran investor and former Partner at Africa Capital Alliance, a private equity firm focused on West Africa.
Kwakwa brings more than three decades of experience spanning private equity, investment banking and corporate finance. During his time at Africa Capital Alliance, he was involved in investments across Ghana and other African markets.
He currently 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 significant new chapter for GTP and Woodin, two brands deeply rooted in Ghana’s textile and fashion industry.
GTP has operated in Ghana’s textile sector since 1966, while Woodin has grown into one of the country’s most recognisable fashion and lifestyle textile brands.
Over the decades, both brands have developed strong associations with Ghanaian fashion, culture and ceremonial wear.
Under the new ownership, Olive Africa Partners Fashions will control TexStyles Ghana and the trademarks associated with GTP and Woodin.
For Kwakwa, the acquisition carries a personal significance. His connection with GTP dates back to his childhood, when he watched his mother trade in GTP fabrics to support the family.
Describing the acquisition as an honour, Kwakwa said he and Gadzi intend to build on the longstanding legacy of the two brands while positioning the business for future growth.
From investment banking to textiles
The acquisition adds a major consumer and manufacturing business to Kwakwa’s extensive investment career.
Before joining Olive Holdings, Kwakwa held senior investment positions, including at Standard Bank Group, and was a Partner at Africa Capital Alliance, where he worked on private equity investments across West Africa.
He also founded Sagevest Holdings.
His move into the textile industry reflects Olive Holdings’ broader investment strategy of backing established African businesses with strong brands and long-term growth potential.
Rather than building a new textile company from the ground up, the acquisition gives Olive Africa Partners Fashions control of an established business with recognised brands, an existing customer base and decades of operating experience.
Vlisco exits TexStyles Ghana
The transaction brings an end to Vlisco BV’s ownership of TexStyles Ghana.
The Dutch textile group has been associated with the Ghanaian company for several years and acknowledged the deep connections GTP and Woodin have with Ghana and the wider West African textile heritage.
Vlisco welcomed the transition to Ghanaian ownership and said it would continue to support TexStyles Ghana as a partner.
TexStyles Ghana is expected to continue operating under its existing management following the acquisition, while maintaining relationships with its employees, distributors, retailers and customers across Ghana and other West African markets.
Managing Director Kodwo Agyenim-Boateng welcomed the new shareholders and expressed optimism about working with them to expand the business.
The transaction is expected to take effect in the coming weeks, subject to the completion of the necessary administrative and regulatory processes.
