Michaels–its longtime competitor–announced on Thursday that it had officially acquired the intellectual property and private label brands of Joann Inc., which includes the development of the beloved Big Twist brands as part of the Michaels portfolio.
Related: Hallmark Store to Close After 30 Years in Business in Just a Few Weeks
View this post on Instagram
A post shared by Michaels Stores (@michaelsstores)
View this post on Instagram
A post shared by Michaels Stores (@michaelsstores)
"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," said Michaels CEO David Boone 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."
Next:Popular Restaurant Chain Makes 'Difficult Decision' to Suddenly Close Dozens of Locations
Read More Details
Finally We wish PressBee provided you with enough information of ( Michaels Officially Acquires Cult-Favorite Craft Store Brand )
Also on site :