Wellco (AMEX:WLC)
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From Sep 2019 to Sep 2024
Wellco Enterprises, Inc. (AMEX: WLC) today announced that its
shareholders have approved the proposed merger between Wellco and a
corporation organized by Golden Gate Capital and Integrity Brands. The
merger remains subject to other customary closing conditions. Upon
completion of the merger, each issued and outstanding share of Wellco’s
common stock will be converted into the right to receive $14.00 in cash.
Wellco’s shareholders also approved the
proposed amendment to its articles of incorporation to provide that the
period of duration of Wellco as a corporation will be perpetual.
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.
CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING INFORMATION
Statements throughout this report that are not historical facts are
forward-looking statements. These statements are based on current
expectations and beliefs, and involve numerous risks and uncertainties.
Many factors could affect the Company’s actual
results, causing results to differ materially from those expressed in
any such forward-looking information.
These factors include, but are not limited to, the receipt of contracts
from the U. S. government and the performance thereunder; the ability to
control costs under fixed price contracts; the cancellation of
contracts; and other risks detailed from time to time in the Company’s
Securities and Exchange Commission filings, including Form 10-K for the
year ended July 1, 2006. Those statements include, but may not be
limited to, all statements regarding intent, beliefs, expectations,
projections, forecasts, and plans of the Company and its management.
Actual results may differ materially from management expectations. The
Company assumes no obligation to update any forward-looking statements.