Michaels Acquires Joann’s Intellectual Property and Beloved Brands

A Major Shift in the Craft Retail Landscape

Michaels, the largest arts and crafts retailer in North America, has officially acquired the intellectual property and private-label brands of Joann, the iconic fabric and crafts store that recently closed its doors. This strategic move not only strengthens Michaels’ position in the fabric and sewing market but also ensures the continuation of Joann’s most-loved products under a new banner.

In a statement, Michaels CEO David Boone said, “We’re honored to welcome JOANN customers into our creative community and are committed to delivering the selection, value, and inspiration they are looking for at Michaels.” Boone added that this acquisition enables the company to better respond to increasing customer demand.

Financial Details Kept Private

Although the exact financial terms of the deal were not disclosed, Michaels confirmed the purchase of Joann’s intellectual property, including its popular in-house brands. The Associated Press reached out to the company for further information, but additional details have not yet been shared publicly.

Joann’s Legacy: 80 Years of Creativity

Joann’s story began in 1943 with a small store in Ohio. Over the next eight decades, it became a trusted name for millions of American crafters—especially those passionate about sewing, quilting, knitting, and home décor. Generations of creators relied on Joann for its wide variety of fabrics, yarns, tools, and workshops.

Despite its rich legacy, Joann faced a series of challenges in recent years. These included weak consumer demand, ongoing supply chain issues, and rising competition from online and big-box retailers. After filing for Chapter 11 bankruptcy for the second time in less than a year, the company announced in February 2025 that it would be going out of business.

At the time, Joann revealed that financial services firm GA Group and its term lenders had agreed to purchase most of its assets. The announcement included plans for liquidation sales across all stores, marking the end of an era for the beloved brand.

Big Twist and Other Fan-Favorite Labels Find a New Home

Among the assets now owned by Michaels is the “Big Twist” yarn brand, one of Joann’s most recognizable and cherished product lines. Michaels has already started developing this brand under its own portfolio, with plans to make Big Twist available both in stores and online later this year.

This move ensures that loyal Joann customers will still have access to the products they love—even if under a different roof. Michaels has also launched a special landing page to welcome former Joann customers, making it easier for them to find similar or identical products during the transition.

Expanding the Fabric and Sewing Department

This acquisition goes hand-in-hand with Michaels’ broader plan to strengthen its offerings in the fabric and sewing categories. The company announced that it will be introducing over 600 new products as part of this expansion.

These additions include quilting fabrics, sewing machines, embroidery threads, and specialty supplies from both new and established brands. With Joann no longer in the picture, Michaels sees this as an opportunity to fill a significant gap in the market and cater to a wider crafting audience.

About Michaels: A Crafting Powerhouse

Founded in 1973, Michaels has grown into a household name for creatives of all types. With 1,300 stores across 49 U.S. states and Canada, the company offers everything from paint and paper to beads, floral arrangements, and home décor.

Michaels is owned by The Michaels Companies, which also includes Artistree, a custom framing manufacturer. The company has long been recognized for its commitment to providing creative resources and high-quality products to amateur and professional artists alike.

A Win for Craft Lovers Everywhere

The closure of Joann may have been a blow to long-time fans, but Michaels’ acquisition ensures that key pieces of the Joann experience will live on. By taking over popular brands like Big Twist and investing in new product lines, Michaels is keeping the spirit of creative exploration alive.

For customers, this change means greater access to products in-store and online, backed by the same level of inspiration and community that Joann once provided. The transition is designed to be smooth, and Michaels is clearly focused on retaining the trust and loyalty of former Joann shoppers.

The Future of Crafting Looks Bright

As Michaels integrates Joann’s beloved brands into its inventory, customers can expect even more variety, better access, and improved service. From new quilting fabrics to cherished yarns, Michaels is setting itself up as the new go-to destination for crafters across the U.S.

While the name Joann may no longer grace storefronts, its influence will continue to be felt through the products and traditions carried forward by Michaels. The crafting community remains vibrant—and thanks to this acquisition, it’s only growing stronger.