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A Wyoming ranch once owned by members of the Disney family has sold after hitting the market for $71 million last year.
The buyer is an entity tied to billionaire industrialist Steven Rales, according to property records and people familiar with the deal. The seller was Stephen Gordon, a former manufacturing executive who bought the ranch from the Disney family in the 1980s. The sale price of the ranch wasn't disclosed since Wyoming is a nondisclosure state.
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Neither Mr. Gordon nor Mr. Rales responded to requests for comment.
Known as the Diamond G Ranch, the property spans about 5,000 deeded acres and is located about 82 miles east of Jackson Hole near the town of Dubois, according to marketing materials.
Listed in August, the ranch has several structures, including a five-bedroom lodge and multiple guest cabins. The property is about 23 miles from Yellowstone National Park, and there is a roughly 5-mile stretch of Du Noir Creek running through it.
Steven Rales and his brother, Mitchell Rales, co-founded the Washington, D.C.,-based manufacturing conglomerate Danaher in the 1980s, according to the company's website. The little-known and highly-successful company was named for a Montana tributary where the brothers went on a fishing trip and came up with the idea for their company. Steven Rales is also a principal in a film-production company, according to Danaher's website, and he has homes in California and New York City, records show.
Diamond G Ranch was previously owned by members of Walt Disney's family, who owned the ranch through a company known as Retlaw Enterprises, which Mr. Disney had formed to license his name and build Disneyland.
Jim Taylor of Hall and Hall represented the seller. Clayton Andrews of Clayton Andrews Real Estate represented the buyer.
Earlier this year, a 49-acre ranch in Jackson Hole was listed for $22.5 million; it is now asking $18.95 million. In Cora, Wyo., about 60 miles south of Jackson Hole, a 12,000-acre ranch is asking $35 million.
Write to E.B. Solomont at eb.solomont@wsj.com