Michaels Store, Inc.
About Michaels Store, Inc.
Company overview
Michaels Stores, Inc. is a specialty retail company founded in 1973 by Michael J. Dupey, with its headquarters located in Irving, Texas. The company operates as a leading retailer of arts, crafts, framing, floral, wall decor, and seasonal merchandise, serving both hobbyists and professional crafters through its extensive network of stores and online platform. Michaels has grown to become one of the largest arts and crafts retail chains in North America, with a focus on providing creative supplies and services for DIY projects and home decor. Business/Product Breakdown Michaels Stores, Inc. offers a wide range of products and services centered around arts, crafts, and home decor, catering to DIY enthusiasts, artists, and event planners. Its product offerings include art supplies, such as paints, brushes, and canvases; crafting materials like yarn, beads, and fabrics; and seasonal décor for holidays and events, including Christmas collectibles like Lemax villages. The company also provides custom framing services, offering a variety of molding options and professional design consultations for personalized framing solutions. Additionally, Michaels sells party supplies, such as pre-inflated balloons for events, and sewing supplies, supported by project ideas and free classes during events like National Sewing Month. Its online platform enhances accessibility with options for in-store pickup and a broad selection of exclusive products, such as Caron yarn cakes. Michaels emphasizes affordability through frequent promotions and a loyalty program, ensuring a comprehensive shopping experience for creative projects.
Keywords
Revenue
EBITDA
Valuation
| Line Item | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Revenues | $380 MM | $250 MM | $90 MM | $120 MM | $65 MM |
| Gross Profit | $190 MM | $125 MM | $45 MM | $60 MM | $32.50 MM |
| Net Income (Loss) | $43 MM | $25 MM | $9 MM | $12 MM | $6.50 MM |
| Line Item | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Total Assets | $850 MM | $720 MM | $680 MM | $650 MM | $600 MM |
| Total Liabilities | $450 MM | $400 MM | $380 MM | $350 MM | $320 MM |
| Total Equity | $400 MM | $320 MM | $300 MM | $300 MM | $280 MM |
Ratios
M&A2024-03-15Completed
Investor Sponsors NorthBridge PE | Stake Tags 100% |
Deal Amount $120M | Is PE deal Yes |
Target Company Valuation $1.20 MM | Is deal PE backed Yes |
Techniques Acquisition of Assets, Taken Private | Total Acquired 100% |
Investor Sponsors
Deal Amount
$120M
Target Company Valuation
$1.20 MM
Techniques
Acquisition of Assets, Taken Private
Stake Tags
100%
Is PE deal
Yes
Is deal PE backed
Yes
Total Acquired
100%
Secondary Transaction2023-09-01Canceled
Investor Sponsors -- | Stake Tags Majority |
Deal Amount Undisclosed | Is PE deal No |
Target Company Valuation -- | Is deal PE backed Yes |
Techniques Secondary Sale, Management Buy-out (MBO) | Total Acquired 65% |
Investor Sponsors
--
Deal Amount
Undisclosed
Target Company Valuation
NaN
Techniques
Secondary Sale, Management Buy-out (MBO)
Stake Tags
Majority
Is PE deal
No
Is deal PE backed
Yes
Total Acquired
65%
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