The Relationship Between Crafting Giants Hobby Lobby and Michaels

For crafters and DIYers, Hobby Lobby and Michaels are meccas filled with glittering aisles of yarn, paints, ribbons, and anything else you could ever need to fuel your creativity. They feel almost like sibling stores with their similar offerings. But are they connected? Does Hobby Lobby actually own Michaels? Let’s find out.

Two Totally Separate Companies

While they stock many of the same products today, Hobby Lobby and Michaels have zero affiliation and entirely separate histories and owners.

Hobby Lobby was born in Oklahoma City in 1972, founded by David Green with a $600 bank loan. It has grown into one of the nation‘s largest privately held retailers with over 900 stores, 43,000 employees, and $6 billion in revenue as of 2021. However, it remains privately owned by the Green family to this day.

Michaels, headquartered in Texas, was founded just a year later in 1973 by Michael Dupey. It has also expanded significantly over the decades, operating over 1,200 stores across the U.S. and Canada as of 2022. The company brings in around $5 billion in sales annually. However, Michaels has gone through several ownership changes and is currently owned by private equity firm Apollo Global Management after a 2021 deal.

So while they now have a similar dominant presence in the market today, make no mistake – Hobby Lobby and Michaels have always been completely independent businesses with zero ties.

No Ownership Connection Whatsoever

There has never been any ownership connection or affiliation between crafting giants Hobby Lobby and Michaels over their 50+ years in business.

Hobby Lobby has always been privately owned by the Green family, operating as a standalone company. Meanwhile, Michaels has changed owners several times:

• 2006 – Acquired by private equity firms Bain Capital and Blackstone Group
• 2014 – Taken public, so ownership expanded to any shareholders
• 2021 – Bought again by private equity firm Apollo Global for $5B

At no point in their histories have Michaels and Hobby Lobby ever shared ownership or been under the same corporate umbrella. One has never owned the other. They have always operated as fully separate entities.

Different Ownership Structures

Here is a quick summary of the current ownership status of each company:

Hobby Lobby

• Founded: 1972
• Founder: David Green
• Headquarters: Oklahoma City, OK
• Stores: 900+
• Ownership: Private, still owned by Green family

Michaels

• Founded: 1973
• Founder: Michael Dupey
• Headquarters: Irving, TX
• Stores: 1,200+ (U.S. and Canada)
• Ownership: Private equity firm Apollo Global (since 2021)

Direct Competitors

So if they have no affiliation, how exactly do Hobby Lobby and Michaels relate to one another?

Simply put, they are major competitors going head to head for American crafting dollars. Analysts often compare and contrast Hobby Lobby vs. Michaels in terms of business strategy, store experience, pricing, and product selection.

Both chains offer everything from fabric to Christmas decor to custom framing—meaning crafters often deliberate whether to shop at their local Hobby Lobby or Michaels. It‘s a friendly retail rivalry that benefits customers through competitive pricing and services.

But behind the scenes, they make business decisions completely independently without any say in each other’s operations.

Nothing to Do With Religion

Some wonder if religion plays a role in the relationship between the two companies. After all, Hobby Lobby is openly Christian with stores closed on Sundays and Christian messaging.

However, this religious orientation is completely irrelevant to whether Hobby Lobby owns Michaels. Michaels has no religious affiliation, and Hobby Lobby’s Christian faith does not impact the ownership structure of other craft retailers.

TLDR: No Affiliation Whatsoever

Let’s recap clearly: Hobby Lobby and Michaels are two gigantic arts and crafts retailers competing for the same customers. But despite their similar offerings, the two chains have always operated fully separately with zero affiliation or ownership ties.

Hobby Lobby is privately owned by the Christian Green family, while Michaels has shifted between public and private ownership. There has never been any connection between the two brands behind the scenes.

So for crafters and DIYers who don’t care who owns what as long as there’s a huge selection of yarn, just know you can shop freely between Hobby Lobby and Michaels without indirectly supporting one or the other!