Irving-based The Michaels Companies has completed its acquisition of the intellectual property and private label brands of JOANN, including the development of the popular Big Twist brands as part of the Michaels portfolio.

The acquisition does not include the brick-and-mortar assets of JOANN, the company said. Financial details of the acquisition were not disclosed.

“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,” Michaels CEO David Boone said in a 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.”

David Boone, CEO of The Michaels Companies [Photos: M. Suhail/istock/LinkedIn]

In addition, Michaels said it is expanding its fabric, sewing, and yarn assortment, adding more than 600 products across new and existing brands, including sewing and quilting supplies, fabric, yarn, specialty threads, sewing machines, and more. The company said the acquisition and expanded product assortment reflect progress as Michaels continues to reimagine the customer experience to become “the go-to destination for fueling creativity and celebration.”

Expanding selection to respond to demand

Michaels said that online searches for “fabric” on Michaels.com have increased by 77% over the past year and it has responded by making a significant investment in the category, increasing the assortment in over 680 stores, with plans for 280 more stores this year.  Michaels said it offers an extensive range of fabric with more than 10,000 options available online. 

Michaels also said that searches for ‘sewing’ have increased by 39% on Michaels.com since last year. 

The company said it is expanding its selection of customer-loved brands starting this month to ensure every creator has access to the tools and materials they want, including:

• Introducing new Brother and SINGER sewing machines
• Adding 50+ new needle crafting kits from DMC and Loops & Threads
• Debuting more than 10 Pellon stabilizers and interfacing, specialty scissors, and thread packs, with Pellon cut-to-order batting coming in August
• Expanding assortment with new products from Clover, FISKARS, Coats & Clark, and VELCRO
• Welcoming best-selling Oliso Smart Iron

Michaels also said that it is actively expanding its yarn assortment by 25% this year to meet “soaring” customer demand. Here’s what’s new in yarn:

• Releasing over 60 new Loops & Threads offerings in-stores and online starting this month
• Introducing new and expanding national brand collections from Red Heart, Bernat, and Lion Brand this summer
• Expanding best-selling Amigurumi kits with 12+ new seasonal offerings launching this holiday season
• Welcoming popular JOANN brands including Big Twist Value Plus, Big Twist Twinkle, Big Twist Posh and Big Twist Baby Bear, which are now being developed as part of Michaels portfolio of brands and will be available in-stores and online later this year

The Michaels Companies operates more than 1,300 stores in 49 states and Canada and online at Michaels.com and Michaels.ca. The Michaels Companies also owns Artistree, a manufacturer of custom and specialty framing merchandise.

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