The nearly $1 billion sale of Overland Park-based Bushnell has wrapped up, turning the binoculars maker into a part of Alliant Techsystems Inc.
Bushnell, with about 300 area employees among 1,100 globally, is largely a shooting sports business selling rifle scopes, holsters, slings and related products for about two thirds of its $600 million in annual revenues.
ATK, as Alliant Techsystems is commonly known, is combining Bushnell with its sports division that includes a recently purchased rifle and shotgun maker, ammunition brands and related products. The Virginia-based company also operates the federal government’s Lake City Army Ammunition Plant in Independence.
ATK is paying $985 million in cash. Bushnell was owned by a private equity investment firm called MidOcean Partners.
The Bushnell transaction boosts sporting revenues to 45 percent of ATK’s revenues, the company has said. ATK plans to provide information about the deal’s impact on business in its quarterly earnings report Thursday.