Mooty Family Acquires Faribault

Faribault Woolen Mill Co., Faribault, Minn., has been purchased by former Dairy Queen International
Inc. CEO Chuck Mooty and his cousin and business partner, Paul Mooty. Founded in 1865, Faribault is
Minnesota’s oldest manufacturing company and at one time was the largest U.S. manufacturer of wool
blankets. In acquiring the mill, which was shuttered in July 2009, the Mootys hope to re-establish
viable production of wool products in the United States, and particularly in Minnesota.

“This is a story about the revival of American excellence,” said Chuck Mooty. “The art of
manufacturing textiles should be retained by our country, particularly during a time when our
economy is so challenged with unemployment.”

Chuck Mooty will serve as president and CEO of Faribault Woolen Mill, and Paul Mooty will
become CFO. Chuck Mooty’s son, John Mooty, will head the company’s marketing department, and
additional family members are expected to take on other company responsibilities. The company also
plans to add more employees, including former Faribault mill workers.

Faribault will sell product through hospitality, health care, government and specialty design

July/August 2011