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Michaels has acquired craft and fabric retailer Joann's intellectual property and private label brands, including its popular Big Twist yarns, the company announced this week.

Michaels buys Joann brand, plans to expand crafting supply to meet demand The arts and crafts retailer is expanding its fabric, sewing supplies and more.

Michaels buys Joann brand, plans to expand crafting supply to meet demand The arts and crafts retailer is expanding its fabric, sewing supplies and more.

Following the closure of all 800 Joann stores, including 17 in Arizona, Michaels has acquired the sewing brand. What that means for shoppers.

Michaels now owns Joann - literally. The craft giant cashed in on the demise of Joann, formerly known as Jo-Ann Fabrics, in a recent purchase of its intellectual property and private-label brands.

Michaels buys Joann brand, plans to expand crafting supply to meet demand The arts and crafts retailer is expanding its fabric, sewing supplies and more.

Michaels successfully completed the acquisition of the intellectual property and private label brands of Joann.

Michaels has acquired the intellectual property and private label brands of competitor Joann, which closed its stores after filing for bankruptcy.