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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 acquires Joann's brands to expand fabric offerings amid rising demand. CEO David Boone aims to enhance Michaels as a creative destination.

Craft labels from the now-shuttered fabrics seller Joann are making their way to a new home: Michaels.

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

Michaels acquires Joann's IP and private labels, expanding into fabrics, sewing, and yarn. 'Big Twist' yarns to be available in-stores and online.