In April, Apollo announced in a press release that the acquisition was completed. On March 3, 2021, The Michaels Companies management agreed to be acquired by venture capital firm Apollo Global Management for $22 per share, or $3.3 billion, and the company was to be taken private. In July, the company downsized its headquarters but remained in Irving, Texas.
In January 2020, former Walmart merchandising executive Ashley Buchanan joined The Michaels Companies as the chief executive officer and a member of the board of directors. Moore stores as Michaels stores after A.C. announced that they would reopen up to 40 A.C. In November, The Michaels Companies, Inc. In October, Mark Cosby was named CEO of the Michaels Companies after being named interim CEO in February 2019. Moore stores after its bankruptcy and liquidation. In November 2019, The Michaels Companies, Inc. In January 2019, the company announced the closure of the Pat Catan Stores, a dozen or more of which were to be reopened under the Michaels Stores name.
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In March 2018, the company announced its partnership with TV design personalities Drew and Jonathan Scott of HGTV's Property Brothers for a custom frame collection. That year the company also embarked on media partnerships with Good Morning America and Nickelodeon around the concept of promoting screen-free activities for children and teens.
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In 2018, The Make Off series was nominated for a Webby Award. In Fall, Michaels launched a relationship with Elizabeth Jean "Busy" Philipps in fall 2017, resulting in a digital video series called The Make Off, in which Busy competes in a crafting competition against other celebrities. In June 2017, The Michaels Companies became a Fortune 500 company.
In August, The Michaels Companies acquired Hancock Fabrics' intellectual property and customer database as part of its bankruptcy and liquidation. In February 2016, the company completed the acquisition of Lamrite West, Inc., which included an international wholesale business under the Darice brand name ("Darice") and 36 arts and crafts retail stores located primarily in the Midwest under the Pat Catan's brand name. In August, Michaels announced a partnership with online DIY craft design and video company Darby Smart aimed at "making crafting simpler and more accessible." In April 2015, Rubin was named chairman, in addition to his title of CEO. The IPO valued the company at $3.45 billion. The company debuted in June 2014 on the NASDAQ under the symbol MIK and raised about $472 million in its initial public offering, using the funds to pay down debt.
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