The Michaels Companies, Inc. is an American retail holding company, headquartered in Irving, Texas. It was formed as a parent company of Michaels in 2014. As of 2021, The Michaels Companies operates its flagship brand, Michaels (in the United States and Canada), and Artistree, a manufacturer of custom and specialty framing merchandise. There are over 1,252 arts and crafts stores located in the United States and Canada.
History
The Michaels Companies 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.[4] The IPO valued the company at $3.45 billion.[5][6] In April 2015, Rubin was named chairman, in addition to his title of CEO. In August 2015, Michaels announced a partnership with online DIY craft design and video company Darby Smart aimed at "making crafting simpler and more accessible."