Acquisition Details
announced the completion of its acquisition of 's intellectual property and private label brands, aiming to expand its fabric, sewing, and yarn offerings.
The acquisition includes popular "Big Twist" yarns, now set to be part of Michaels' portfolio, with plans to make them available in stores and online later this year.
Strategic Expansion
Michaels is adding over 600 new products, including quilting supplies, fabrics, and sewing machines, as part of its expansion into fabrics.
The company has dedicated a landing page for former Joann customers online, signaling a commitment to integrating Joann's customer base into Michaels' community.