Briggs and Stratton purchased Allmand Brothers, which has been in Holdrege for 76 years. Management and employees will remain with the hopes of future growth in both jobs and the plant itself.
Officials say this agreement is a big investment in south-central Nebraska.
"I think one of the most important things for the community is that we've got a two billion dollar company that has an operation in Holdrege, Nebraska now with plans to grow rather significantly in the next two, three, four years," said Allmand Brothers Board Chair Roger Allmand.
"It's one of those things where all the stars are starting to align and you can see great things happening in Phelps County because of these little different segments," said Phelps County Development Corporation Executive Director Monica Boyken. "The business and industry park coming together and Allmand Brothers working with Briggs and Stratton, that'll be a great combination of factors for our community."
Allmand Brothers has an extra 17 acres of land in the newly acquired Business and Industry park next to the plant, and right now it has about 200 employees.