Michaels Companies Inc announced the acquisition of Joann's intellectual property.

On June 5, 2025, Michaels Companies Inc. declared its acquisition of Joann's intellectual property and private label brands, which follows Joann's second Chapter 11 bankruptcy filing earlier this year. This acquisition encompasses well-known brands such as Big Twist, in addition to Joann's website and digital assets.

It is crucial to highlight that Michaels did not obtain any of Joann's physical store locations. Joann had earlier announced the closure of all its 800 stores across the nation, with the last locations set to shut down by May 30, 2025.

Through this acquisition, Michaels intends to broaden its range of fabric, sewing, and yarn products, incorporating over 600 new items into its inventory. The company is also introducing a dedicated landing page for former Joann customers, showcasing a curated selection of products.

This strategic initiative positions Michaels to better serve the crafting community, effectively integrating Joann's renowned brands into its existing portfolio.