Until the founding of the Reformed parish of Münchwilen-Eschlikon in 1935 (which included Oberhofen, St. Margaret and Wallenwil), it was part of the parish of Sirnach.
The water power of the Murg river (a grist mill was built in 1601), the Murgbrücke (bridge over the Murg) to Oberhofen (built in 1774) and the expansion of Wil-Winterthur road (in 1785) provided the basis for the development of the tourism and manufacturing industry.