American Woolen Company

Based in Stafford Springs, Connecticut, the company operates from the 160-year-old Warren Mills, which it acquired from Loro Piana SpA in June 2014.

In particular, family trusts, the main shareholders of many of the mills, insisted on receiving high dividends instead of making necessary capital improvements.

Frederick Ayer, successful Lowell merchant, purchased the Washington Mills in Lawrence, Massachusetts, and hired his son-in-law, William M. Wood to run it.

With Ayer's financial backing, Wood brought together various under-performing mills in the aim of reducing competition and increasing prices.

Most of these mill operations had started as 100% water-powered, but added coal-fueled steampower in the late 1800s as demand exceeded what could be provided by water alone.

American Woolen Company ranked 51st among United States corporations in the value of World War II military production contracts.

The acquisition was made with the intent to "reintroduce luxury worsted and woolen textile manufacturing to the United States.