🠈  Michaels Arts and Crafts  🠊


Michaels is a chain of Arts and Crafts superstores that has over 1200 locations. Their headquarters are in Irving, Tx. They trade on the NASDAQ with the symbol MIK

The chain traces its history to 1976 when Dallas businessman Michael J. Dupey opened his first store in Dallas, Texas. The stores had grown to $10M in sales when Illinois businessman Samuel Wyly bought controlling interest.

Michaels acquired Aaron Brothers Custom Framing , which had 71 stores at the time, in 1995 which they expanded as a store within a store. In 2018 Michaels closed the free standing stores and rebranded the subsidiary as Michaels Custom Framing.4

Michaels went public in 1984 and grew to $3B in sales by 2003.

A private equity partnership of Bain Capital and the Blackstone Group bought the chain for $6 billion when it had 900 stores in 2006. The chain opened its thousandth store in 2008.

The company planned an IPO on the NYSE in 2012, which was delayed when CED John Menzer had a stroke. The company held the IPO on the NASDAQ in 2014 with the symbol MIK. The IPO raised $473 million.

In 2016 Michaels acquired Lamrite West, Inc. which operated the Darice chain and the Pat Catan chain6. They also acquired assets from the bankruptcy of Hancock Fabrics.

In 2019, Michaels bought 40 stores and a warehouse from AC Moore which had gone bankrupt with 145 stores.5

The web site sells arts and crafts supplies mixed in with a large selection of design and creative ideas.

Corporate Timeline

This is a timeline of corporate events.7

profile page


  1. Wikipedia - Michael's (Drawn 10/2/2019)
  2. Reuters - Michael's IPO (Drawn 10/2/2019)
  3. NY Times - Consortium buys michaels for $6 billion (Drawn 10/2/2019)
  4. Reuters - Michael closed Aaron Bros (Drawn 6/30/2020)
  5. Retail Touch Points - AC Moore to close all stores (Drawn 7/5/2020) 2459031
  6. (Drawn 6/30/2020)
  7. Funding Universe - Michaels (Drawn 6/30/2020)

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