A new deal will see two big names in craft supplies get closer together as The Michaels Companies, Inc. acquires Joann’s intellectual property and private-label brands.
Michaels already has plans for the Joann assets, following Joann’s second bankruptcy within a year, announced in January. Among the assets being acquired will be Big Twist yarn brands, such as Big Twist Value Plus and Big Twist Twinkle, which Michaels will begin selling online and in stores before the end of 2025.
The Michaels Companies is No. 100 in the Top 2000 Database. That database includes Digital Commerce 360’s ranking of North America’s largest online retailers. Digital Commerce 360 projects The Michaels Companies’ total web sales in 2025 will reach $1.06 billion. Joann, Inc. was No. 300 in the Top 2000 prior to its 2025 bankruptcy filing.
Michaels web sales by year
Michaels acquires Joann assets after bankruptcy and liquidation
Along with the Joann IP acquisition, Michaels shared that it would add more than 600 products to its portfolio. Those include fabric, sewing, yarn and quilting supplies.
Joann’s stores began closing after its bankruptcy filing, but the retailer operated about 800 stores prior to January. The firm GA Group acquired Joann assets in February and proceeded to close remaining stores as it initiated a liquidation process.
“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 David Boone, CEO at Michaels, in a released statement. “This acquisition allows us to better serve both new and existing customers, respond to rising demand across categories, and build on our momentum as the destination for creating and celebrating in North America.”
Fabric and sewing supplies at Michaels
Searches for “fabric” have increased by 77% in 2025 over 2024 levels, while “sewing” searches have increased by 39%, Michaels internal data showed. The company currently sells more than 10,000 fabric options, according to its press release.
For sewing supplies customers, Michaels plans to begin selling new Brother and Singer sewing machines in June. In addition, it will carry more than 50 new needle crafting kits made by DMC and Loops & Threads, along with new Pellon stabilizers and interfacing, specialty scissors, and thread packs.
In August, the retailer will add new products from Clover, Fiskars, Coats & Clark and Velcro, along with Oliso Smart Irons.
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