Michaels stores after A.C. Moore's bankruptcy and liquidation. 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. In July, the company downsized its headquarters but remained in Irving, Texas. 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 April, Apollo announced in a press release that the acquisition was completed. Artistree The Michaels Companies owns Artistree, a vertically integrated custom framing business that manufactures precut mats and framing merchandise for Michaels Stores and online ordering. Custom framing orders are processed and shipped to a Michaels store where the frame is assembled and picked up by the customer. References External links The Michaels Companies Arts and crafts retailers Companies based in Irving, Texas Private equity portfolio companies Retail companies of the United States 2014 initial public offerings Retail companies established in 2014 2021 mergers and acquisitions Companies formerly listed on the Nasdaq