Michaels completes acquisition of Joann’s intellectual property and fan-favorite labels

A New Chapter for Joann Customers

Craft enthusiasts across the U.S. have a new reason to rejoice. Michaels, the largest arts and crafts retail chain in North America, has officially completed the acquisition of Joann’s intellectual property (IP) and beloved private label brands. This move marks a significant shift in the crafting retail landscape, as Michaels expands its footprint in fabric, yarn, and sewing categories—long dominated by Joann.

In a statement on Thursday, Michaels CEO David Boone expressed excitement over the acquisition. “We’re honored to have the opportunity to welcome JOANN customers into our creative community,” Boone said. He emphasized that the acquisition will help the company meet the rising demand from new and existing customers and strengthen Michaels’ commitment to offering greater value, selection, and inspiration.

What the Acquisition Includes

While the financial details of the acquisition were not disclosed, the impact is already visible. Among the assets acquired is Joann’s popular “Big Twist” yarn line, a staple product for knitters and crocheters. Michaels plans to relaunch this fan-favorite label as part of its private brand portfolio, both in stores and online later this year.

In addition to acquiring Joann’s intellectual property, Michaels has taken further steps to help former Joann shoppers transition smoothly. A dedicated landing page has been launched to welcome them and provide access to similar products and new offerings.

Expanding Fabric and Sewing Offerings

The acquisition is part of Michaels’ broader strategy to grow its presence in the fabric and sewing space. On Thursday, the company announced the rollout of over 600 new products. These will include quilting fabrics, specialty threads, sewing machines, and various tools and accessories from both new and existing brands.

This product expansion is a direct response to increased demand from customers looking for high-quality fabric and sewing supplies. Michaels is leveraging the opportunity to fill the gap left by Joann’s exit from the marketplace.

The Rise and Fall of Joann

Joann’s story began in 1943 with a single storefront in Ohio. Over the decades, the brand became a household name among hobbyists, artists, and DIYers—particularly those involved in sewing, quilting, knitting, and other textile crafts. For more than 80 years, Joann served as a creative hub for generations of American crafters.

However, Joann’s fortunes began to wane in recent years. The company faced mounting operational challenges, including declining consumer demand, inventory disruptions, and intensifying competition from big-box stores and online retailers. These issues culminated in a Chapter 11 bankruptcy filing—the second in less than a year—in early 2025.

By February, Joann confirmed it would go out of business. Financial services firm GA Group and Joann’s term lenders were chosen to acquire most of its assets and begin going-out-of-business sales across all locations. The closure marked the end of an era for the iconic brand.

Michaels Steps In

Founded in 1973, Michaels has built a reputation as the go-to destination for craft supplies, home décor, and custom framing. Today, the company operates 1,300 stores across 49 U.S. states and Canada. Its parent company also owns Artistree, a leading manufacturer of custom framing merchandise.

By acquiring Joann’s intellectual property and brand assets, Michaels not only strengthens its product lineup but also captures a loyal customer base in transition. The move is expected to drive growth, especially in categories that Joann once dominated.

A Win for the Crafting Community

This acquisition represents more than just a business transaction—it’s a continuation of creative tradition. By preserving and relaunching beloved Joann labels like Big Twist, Michaels is ensuring that long-time Joann customers won’t lose access to their favorite materials.

Additionally, the integration of Joann’s best-known products into Michaels’ stores will expand accessibility for crafters of all skill levels. Whether you’re an experienced quilter or someone new to the sewing machine, Michaels aims to offer the inspiration and tools needed to bring creative visions to life.

Looking Ahead

Michaels’ acquisition of Joann’s intellectual property signals a bold step forward in the arts and crafts retail sector. It positions the company to become an even more comprehensive provider of creative supplies and opens new avenues for growth in the fabric and sewing market.

While it’s the end of the road for Joann as a standalone brand, its legacy lives on through Michaels—where creativity and community continue to flourish.

As Michaels rolls out new products, relaunches popular brands, and welcomes a new wave of former Joann customers, one thing is clear: the future of crafting remains bright, colorful, and full of potential.