The blaze broke out at the mill owned by Eichmühle AG shortly before midnight on Wednesday, Aargau cantonal police said.
Flames engulfed the building operated by a company established in the 16th century that produces flour and feed.
Around a hundred fire fighters from the region were able to prevent the spread of the fire to neighbouring farm buildings, cantonal police said.
Nearby residents were evacuated and animals were moved as a precaution, law enforcement officials said.
A care team looked after neighbours affected by the fire.
New production facilities and several silos were destroyed, with damage estimated in the “millions” of francs, police said.
Located in the village centre, the mill was a landmark in the community of 1,000.
The cause of the fire was not immediately known.
Cantonal police have launched an investigation.