Wellco Acquired by Golden Gate Capital and Integrity Brands

  
    
  
  
    
      Wellco Enterprises, Inc. (AMEX:WLC) announced today the completion of 
      its previously announced acquisition by Golden Gate Capital, a San 
      Francisco-based private equity investment firm with over $3.4 billion of 
      capital under management, and Integrity Brands, a Boston-based boutique 
      investment firm focused on the consumer brands and specialty retail 
      industries. Golden Gate Capital and Integrity Brands, through Wellco 
      Boot Holdings, Inc. (f/k/a Wasatch Boot Holdings, Inc.), acquired Wellco 
      in an all-cash merger transaction valued at $14.00 per share. In 
      connection with the merger, Wellco’s common 
      shares will be delisted from AMEX, and each issued and outstanding share 
      of Wellco’s common stock has been converted 
      into the right to receive $14.00 in cash.
    
    
      Mellon Investor Service, LLC will act as the payment agent for the 
      acquisition and will send the $14.00 per share merger consideration to 
      Wellco shareholders who have completed and returned the necessary 
      documentation. Additional copies of the documentation necessary for 
      Wellco shareholders to receive payment for their shares can be obtained 
      by contacting Mellon at 1-800-777-3674.
    
    
      About Wellco Enterprises, Inc.
    
    
      Wellco Enterprises, Inc. engages in the manufacture and sale of military 
      and other rugged footwear in the United States and internationally. Its 
      products include military combat boots -- including the hot weather 
      boot, temperate weather boot, and the anti-personnel mine boot -- as 
      well as similar military-style boots for the civilian consumer. The 
      company also sells specialized machinery and materials, and renders 
      technical assistance and other services to licensees for the manufacture 
      of footwear. Wellco sells its products primarily to the U.S. government 
      through the Defense Supply Center of Philadelphia. The company was 
      founded in 1941 and is based in Waynesville, North Carolina. For more 
      information, visit www.wellco.com.
    
    
      About Golden Gate Capital
    
    
      Golden Gate Capital is a San Francisco-based private equity investment 
      firm with approximately $3.4 billion of capital under management. The 
      firm is dedicated to partnering with world-class management teams to 
      invest in change-intensive, growth businesses. Golden Gate targets 
      investments in situations where there is a demonstrable opportunity to 
      significantly enhance a company's value. The principals of Golden Gate 
      Capital have a long and successful history of investing with management 
      partners across a wide range of industries and transaction types. For 
      more information, visit www.goldengatecap.com.
    
    
      About Integrity Brands
    
    
      Integrity Brands is a Boston-based investment firm focused exclusively 
      on the consumer brand and retail sectors. The firm invests in firms with 
      compelling brand and product propositions where its principals can add 
      value through applying their knowledge and experience base in the 
      branded retail arena to drive enhanced value. Integrity Brands has been 
      associated with a series of turnaround and growth successes in 
      businesses in areas including apparel, footwear, and accessories. For 
      more information visit www.integrity-brands.com.