WestPoint Stevens history

Lady Pepperell Manufacturing Company, Inc. followed in 1815, opening in Biddeford, Maine.

In 1844, a Bostonian engineer took a defunct cotton mill in Biddeford, Maine, and, borrowing the name of a legendary Colonial soldier and merchant, obtained a charter for the Pepperell Manufacturing Company.

The company was formally organized in 1850, with another mill along the same river site already under construction.

The first bed sheet stamped with the Pepperell name was sold in 1851.

While southern-grown cotton comprised more than 60 percent of all United States exports in 1860, very little of it was being manufactured locally.

In Alabama, in the valley of the Chattahoochee River near West Point, two groups of merchants and planters surveyed their ruined businesses and plantations around 1865 and found they had just enough capital to build two cotton mills.

Pepperell had three mills humming by 1866; making shirting, sheets, and jeans for sale domestically and overseas.

The Chattahoochee Manufacturing Company, which soon became the West Point Manufacturing Company, was established in Georgia in 1873.

By 1880, the Laniers owned 70 percent of the stock in the Chattahoochee mill and reorganized the business as the West Point Manufacturing Company.

In 1889, Cluett had acquired the Arrow brand name for its shirts.

In 1890, West Point was larger than ever, having acquired a new mill and in the process of constructing another.

In 1906, Lafayette Lanier's son George stepped in to help his ailing father steer the company.

George Lanier had brought with him experience in the manufacturing of towels, and so, in 1916, the Fairfax mill was established for this purpose.

In 1925, Pepperell began construction on its first Southern mill--the Opelika Mill in Alabama.

The Massachusetts Cotton Mills and the Lindale plant of Georgia were acquired in 1926.

In 1928, West Point purchased the business of a Philadelphia manufacturer of terry cloth towels, which brought with it the valuable Martex trademark brand name.

In 1930 Pepperell purchased Granite Mills, a producer of fine-combed cotton goods.

In 1933, West Point acquired the Dixie Cotton Mill.

By 1941, sales volume for Cluett products topped the $30 million mark and Cluett began to look to the South for expansion.

In 1945 West Point purchased the Boston agency that had helped refinance it after the fire in its mills.

By 1946, a new, wholly modern finishing plant had been built and a new sheet factory was added shortly after that.

Columbus Manufacturing Company was purchased in 1947.

By 1954, West Point Manufacturing Company had grown to include 12,000 employees, with annual sales of more than $125 million.

In March 1965, West Point joined forces with Pepperell Manufacturing, creating the fourth-largest publicly held textile company in the United States at the time.

In 1968, WPP launched a $16 million program to expand and modernize.

Alamac Knitting Mills, Inc. and American Rug and Carpet Company were purchased by 1969.

In 1971, J. L. Lanier, Sr., retired as chair and chief executive officer.

Georgian Carpets was established in 1976.

In 1978, WestPoint Pepperell doubled the Elizabethtown operation through new construction, while further expanding the Alamac division through the purchase of two North Carolina plants.

The $1 billion mark was topped for the first time in 1979.

The company celebrated record sales and earnings highs in 1980.

Economic uncertainties and high interest rates caused a slight drop in sales that year; sales continued to dip slightly in 1982, but net income was up that year.

Advanced Fabrics, Inc. of Georgia was purchased in 1983.

WPP's sales remained better than average during the recession, in large part due to its high-fashion home furnishings niche, but earnings stumbled 71 percent in the first half of 1985.

The company's international division bloomed in 1986 with the purchase of London-based Arthur Sanderson & Son Limited, marketers of decorative furnishing fabrics, wall coverings, and specialty carpets, with operations in the United Kingdom, Canada, and the United States.

In May 1988, after obtaining antitrust clearance from the Federal Trade Commission, WestPoint Pepperell took over the top spot in the $1.2 billion bed-linen business by acquiring the bed and bath operations of Stevens.

Tension was high in early 1990, as Farley continued to struggle to arrange financing to complete the acquisition of WPP. Though it had been announced that Biderman S.A., a French company, would buy Cluett, that deal was dragging and the price kept dropping.

In 1991, the West Point Acquisition Co. finally gave up and sought Chapter 11 bankruptcy court protection from the angry shareholders who had tried to force Farley into involuntary bankruptcy.

Soon after, the company defaulted on several financial obligations and filed for Chapter 11 bankruptcy in June 1992.

In December 1993, the company acquired the remaining five percent of WestPoint Pepperell through refinancing and merged with several of its subsidiaries to form WestPoint Stevens, Inc.

In February 1995 the company launched an unprecedented advertising campaign for its Martex line of bed and bath products.

turner, julie. "industrial history of troup county." travels through troup county: a guide to its architecture and history. published by the troup county historical society, troup county, ga, 1996.

The shares had been offered as collateral in 1997 for a $130 million loan by a group of banks.

In June, 2000, the company also unveiled its Eight Point Program to restructure WestPoint Stevens.

In June, 2001, three banks—the Bank of Nova Scotia, First Union National Bank, and Bank One—seized 9.3 million shares of WestPoint Stevens stock.