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.