WLC Wellco Enterprises

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.