Quick Scoop: Who Owns Michaels?

Michaels (the arts and crafts retail chain in the U.S. and Canada) is owned by the private equity firm Apollo Global Management, which took The Michaels Companies private in April 2021 in a deal valued at about 5 billion dollars.

Who Owns Michaels Right Now?

  • The parent entity is The Michaels Companies, Inc., headquartered in Irving, Texas.
  • Funds managed by Apollo Global Management acquired all outstanding Michaels shares and took the company off the stock market in 2021.
  • Since that acquisition, Michaels has been a privately held company rather than a publicly traded stock.

In simple terms: everyday investors no longer “own” Michaels through public shares; Apollo effectively controls the company.

How We Got Here (Mini Timeline)

  1. Michaels as a public company
    • The Michaels Companies traded on the NASDAQ (ticker MIK) after its 2014 IPO.
  1. The 2021 Apollo deal
    • In March–April 2021, Apollo agreed to buy Michaels for 22 dollars per share, valuing the deal around 5 billion dollars and taking it private.
  1. Ownership today
    • As of the 2024–2025 period, sources still describe Apollo Global Management as the owner of Michaels.

Why This Matters (Strategy & Store Experience)

Under private equity ownership, companies often focus on:

  • Long‑term strategic changes without quarterly Wall Street pressure, like revamping stores or supply chains.
  • Expanding e‑commerce and omnichannel offerings (buy‑online‑pick‑up‑in‑store, better apps, etc.).
  • Tight cost controls that employees and customers sometimes notice in staffing levels, product selection, or store policies (a frequent theme in employee forum discussions about Michaels after the Apollo buyout).

So when shoppers or employees ask “who owns Michaels,” they’re often really asking: “Who’s behind these changes I see in the stores?”—and the answer is: Apollo and the leadership team they oversee.

Quick FAQ Style Highlights

  • Who owns Michaels?
    Apollo Global Management (via funds that own The Michaels Companies, Inc.).
  • Is Michaels still publicly traded?
    No. It was taken private in 2021 and is no longer on the stock market.
  • Where is Michaels based?
    Irving, Texas, USA.
  • Did ownership change recently?
    The big recent change was the Apollo acquisition in 2021; sources still list Apollo as owner through at least 2024–2025.
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Aspect Before 2021 After 2021 (Now)
Who owns Michaels? Public shareholders in The Michaels Companies (NASDAQ: MIK).Apollo Global Management–managed funds (private ownership).
Stock market status Publicly traded. Not publicly traded (taken private in 2021).
Headquarters Irving, Texas.Still Irving, Texas.
**Bottom note:** Information gathered from public forums or data available on the internet and portrayed here.