The Michaels Companies announced on Thursday that it had completed its purchase of Joann's intellectual property and private label brands — in an acquisition that arrives as the Texas-based arts and ...

Michaels has purchased the intellectual property and private label brands of Joann, including Big Twist, after the latter closed all stores due to bankruptcy. Michaels will expand its offerings with ...

(CNN) – Michaels is jumping into the void left by the collapse of Joann Fabrics. Michaels announced it is buying the fabric retailer’s private label and drastically expanding its sewing selection.