US: Wellco sale to investment firms completed
The sale of military footwear firm Wellco Enterprises to Golden Gate Capital and Integrity Brands has been completed.
Golden Gate, a San Francisco-based private equity investment firm with over US$3.4bn of capital under management, and Integrity Brands, a Boston-based boutique investment firm, 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.
Deal talks surfaced in February, when just-style reported that the army and rugged footwear supplier's board had agreed to the deal, while shareholder approval was granted earlier this month.
Help test our new apparel sourcing tool.
The news that private equity firms are to buy majority stakes in both the Limited Stores and Express retail chains is just the latest example of the growing presence of private equity in the global ap...
Women's specialty retailer Chico's FAS has appointed its president and CEO Scott A Edmonds to the additional post of chairman of the board....
Limited Brands has reported earnings per share for the second quarter of US$0.67 compared to $0.28 last year, as it made gains from offloaded apparel brands....
The new boss of casual sportswear and accessories retailer Eddie Bauer Holdings Inc has outlined a five-point turnaround plan to reposition the company as a premium active lifestyle brand, including c...
Michael Weiss has been named as chief executive officer of Express, the casual clothing chain that Limited Brands sold yesterday (9 July) to private equity firm Golden Gate Capital....
Limited Brands Inc has found a buyer for a majority stake in its flagship apparel chain - completing a shake-up that will allow it to focus on its intimate apparel and personal care and beauty segment...
Apparel retailer Limited Brands Inc on Friday (22 June) said it plans to axe around 530 jobs, or 10% of its corporate workforce, as part of a series of initiatives to cut costs and refocus its busines...
Limited Brands on Tuesday (15 May) took two giant steps away from the apparel business and reduced its first quarter guidance, principally because of difficulties at one of the assets it intends to re...
- Rana Plaza four years on – Timeline of change
- Trump and Brexit get a dose of pragmatism
- Industry groups reaffirm commitment to Bangladesh
- Using worker surveys to drive supply chain change
- Where does VF supply chain sit in growth strategy?
- Nike filed patent for "reinforced denim"
- Gap unveils five-year sustainable fibres pledge
- Adidas and Reebok top transparency index
- US textile industry applauds Trump executive order
- Pentland Brands reveals Berghaus factory list
- Global market review of denim and jeanswear – forecasts to 2022
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Clothing Market in the Top 5 American Countries to 2021 - Market Size, Development, and Forecasts
- Myanmar - ISA Country Report