Actis, a private equity investor focused solely on emerging markets, has acquired Vlisco Group, a company specialising in designer wax fashion fabrics.
Vlisco Group is a 164-year-old business which contributes to multiple West African economies with diverse brands ranging from luxury (Vlisco) through its mid-tier business (Uniwax) to contemporary (GTP and Woodin).
The company designs, manufactures and distributes 51 million yards of branded fabric a year for consumption primarily in West and Central Africa. It has strong retail presence in the Democratic Republic of the Congo, Ivory Coast, Ghana, Togo and Benin.
The company directly employs over 2,100 people of which 1,500 people are based in West Africa.
Paul Fletcher, senior partner at Actis, says: "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."
Actis is backing Hans Ouwendijk as the new chief executive of Vlisco Group. Ouwendijk brings a track record with international apparel brands including Laura Ashley and Mexx.
Ouwendijk says: "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."
Actis will work with the Vlisco Group management team in distribution, marketing and other operations, while also bringing expertise in environmental, social and governance standards.
