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Michaels, founded in 1973, currently operates 1,300 stores across 49 U.S. states and Canada. Its parent company also owns Artistree, a framing merchandise manufacturer.

Michaels on Thursday said that its purchase of Joann’s IP and private brands included the acquisition of “Big Twist” yarns, which had become a staple in Joann stores over the years.

David Boone, Michaels’s Chief Executive Officer, expressed excitement about the future and what the company can do for Joann customers. “We’re honored to have the opportunity to welcome JOANN ...

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Michaels on Thursday said that its purchase of Joann’s IP and private brands included the acquisition of “Big Twist” yarns, which had become a staple in Joann stores over the years.