WEST AFRICA: PE group Actis acquires Vlisco Group
Private equity group Actis has acquired Vlisco Group, the market leader in designer wax fashion fabrics.
The West African-based company owns a portfolio of brands ranging from luxury, Vlisco; through its mid-tier business Uniwax; to contemporary, GTP and Woodin.
The company designs, manufactures and distributes 51m yards of branded fabric a year for consumption primarily in West and Central Africa. It has strong retail presence in countries including the Democratic Republic of the Congo (DRC), Ivory Coast, Ghana, Togo and Benin. Its manufacturing operations are based in Holland (Vlisco), Ghana (GTP and Woodin) and Ivory Coast (Uniwax and Woodin).
The company directly employs over 2,100 people of which 1,500 people are based in West Africa.
Paul Fletcher, senior partner at Actis said: "The Vlisco Group portfolio of brands are contemporary, proudly African and share an extraordinary heritage of design innovation; grounded in tradition but adapted to the needs of a growing consumer class."
Hans Ouwendijk, the new CEO of Vlisco Group, said: "Over the last few years the Vlisco Group has delivered a great track record. With the commitment of our African and European colleagues and the unique expertise Actis brings, I'm confident there is considerable scope for further growth."
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