Michaels, the arts and crafting chain, has completed its acquisition of Joann’s intellectual property and private label brands. The deal marks a significant expansion for Michaels as it works to grow its fabric, sewing, and yarn offerings.
Joann, which filed for Chapter 11 bankruptcy protection in February, announced its intention to shut down in March after struggling with sluggish consumer demand, inventory shortages, and rising competition. As part of the acquisition, Michaels has acquired “Big Twist” yarns, which will be developed as part of its portfolio and made available in-stores and online later this year.
Michaels plans to dedicate a landing page to welcome former Joann customers online and is adding over 600 new products from existing brands, including quilting supplies and fabrics. The company also owns Artistree, a framing merchandise manufacturer.
“We’re honored to have the opportunity to welcome JOANN customers into our creative community and are committed to delivering the selection, value, and inspiration they are looking for at Michaels,” said Michaels CEO David Boone.
Source: https://www.boston.com/news/business/2025/06/07/michaels-completes-acquisition-of-joanns-intellectual-property-and-fan-favorite-labels