Olive Holdings has completed the acquisition of two of Ghana’s renowned textile brands, GTP and Woodin, in a major transaction expected to contribute to the growth and development of the country’s fashion and textile sector.
The deal was supported by Africa Fashions Partners, while Prime Chartered Accountants acted as Olive Holdings’ financial and tax adviser.
Prime Chartered Accountants, in announcing the transaction, described it as a landmark development involving two of Ghana’s long-standing textile brands. GTP was established in 1962, while Woodin was founded in 1969.
The accounting firm expressed satisfaction with its role in supporting Olive Holdings through the acquisition, stressing the importance of the deal to Ghana’s fashion and textile ecosystem.
Maxwell Yao Atila, Partner for Transaction Advisory at Prime Chartered Accountants, led the firm’s advisory team during the transaction.
The acquisition brings together two brands that have played a significant role in Ghana’s textile and fashion history. Over the years, GTP and Woodin have built strong recognition in the local fabric and fashion market, with their products becoming closely associated with Ghanaian culture and commerce.
According to Prime Chartered Accountants, its responsibilities in the transaction included financial and tax advisory services.
The firm said the deal forms part of its wider commitment to helping businesses create opportunities and achieve growth through professional financial expertise.
The acquisition is also expected to have implications for the future competitiveness and expansion of Ghana’s textile and fashion industry.
Prime Chartered Accountants said the transaction reflects its focus on “People, Expertise and Opportunities” and expressed confidence in the potential of the deal.
The development is based on information contained in a transaction announcement issued by Prime Chartered Accountants.
By: Prince Martey-Sogar