Michaels and Hobby Lobby are two very similar companies that have an almost equal level of presence across the country and focus.
Therefore, many people may suspect that they are either owned by the same company or that one owns the other. If you’re one such person, read this article to find out whether that’s true!
Does Hobby Lobby Own Michaels In [currentyear]?
Hobby Lobby does not own Michaels in [currentyear]. Michaels is currently owned by Apollo Global Management, who bought it in a deal valued at about $5 billion in March 2021. Beforehand, Michaels was jointly owned by two private equity companies, Bain Capital and the Blackstone Group, who bought it for $6 billion at an auction in October 2006.
Read on to learn everything you need to know about the ownership of Hobby Lobby and Michaels, including parent companies, how and where they got their start, and more!
Are Hobby Lobby and Michaels the Same Company?
Hobby Lobby and Michaels are not the same company. Rather, they are two distinct companies with different histories and owners, and they have no affiliation to each other.
Hobby Lobby was started in August 1972 in Oklahoma City by David Green. Green remains the company’s owner and CEO, while the company’s headquarters are still in Oklahoma City.
Since it was started, the company has remained in the control of the family. David Green’s son, Steve Green, is the current president of the company.
Michaels was founded in 1973 by Michael J. Dupey in Dallas. Dupey passed away in 2010, but the company had gone through different owners before then.
Despite being founded in Dallas, the company headquarters are currently located in Irving, Texas.
Is Hobby Lobby Owned by Michaels?
Hobby Lobby is not owned by Michaels but is currently owned by founder and CEO David Green, who has been in charge of the company since it kicked off operations in 1972.
Hobby Lobby has remained under private ownership since it was founded, having never been sold or gone public.
Are Hobby Lobby and Michaels Owned by the Same Company?
Hobby Lobby and Michaels are not owned by the same company.
Hobby Lobby is actually not owned by any company, having remained under the control of the founder and his family since it began operations.
Michaels, however, is currently owned by Apollo Global Management, a private equity company that acquired the business in March 2021, in a deal valued at an estimated $5 billion.
Who Is Michaels Owned By?
As stated above, Michaels is currently owned by private equity firm Apollo, following a $5 billion acquisition in early 2020.
Before this, the retailer was jointly owned by two venture capital firms, the Blackstone Group and Bain Capital, who bought it in an auction in 2006.
Michaels has also had periods where it was publicly owned, meaning that anybody could buy shares in the company.
When Apollo bought the company, it did so by purchasing shares, and are intended to make Michaels a privately owned company like Hobby Lobby.
Who Is the Parent Company of Hobby Lobby?
Hobby Lobby does not have a parent company. Since it was founded 50 years ago, it has remained a privately owned company under the control of founder and CEO David Green.
Is Hobby Lobby a Mormon Owned Company?
Hobby Lobby is not a Mormon owned company. Rather, the Founder and CEO David Green is actually a fundamentalist Christian.
While Christians and Mormons share some core beliefs, they have enough differences that they are considered separate from one another.
Did Hobby Lobby Buy Michaels?
Hobby Lobby did not buy Michaels, but it was recently bought, but by a venture capital firm known as Apollo Global Management in early 2021.
What Companies Are Owned by Hobby Lobby?
Hobby Lobby does not own any companies, and it has never acquired another company, instead only buying up religious artifacts and storage space.
However, the company is heavily affiliated with Mardel Christian & Education, a company that sells religious products such as Bibles, movies, books, children’s toys, homeschooling material, and church supplies.
Mardel’s founder is Mart Green, son of David Green, who owns Hobby Lobby.
Mart left Hobby Lobby in 1981 to pursue the Christian and office supply retail segment.
Today, the two companies are separate, but they still have very strong affiliations.
When Hobby Lobby filed a lawsuit against the federal government, Mardel was named as one of the parties suing.
On the company website, Hobby Lobby lists Mardel as the only other company it has ties to, and they both have their headquarters at the same complex in Oklahoma City.
What Companies Are Owned by Michaels?
Michaels owns Artistree, a company that creates specialty and custom framing merchandise. However, this company does not own Hobby Lobby.
Are Michaels and Hobby Lobby Affiliated?
Michaels and Hobby Lobby are not affiliated.
Despite being very similar in terms of what they offer, they have no ties to each other, and this means that people are always comparing them and giving one as an alternative to the other.
To know more about Hobby Lobby, you can also read our posts on why is Hobby Lobby closed on Sundays, if Hobby Lobby is in Canada, and what is Hobby Lobby.
Conclusion
Hobby Lobby does not own Michaels. In fact, the two companies don’t have any ties to each other, despite their similar business models. Hobby Lobby has its headquarters in Oklahoma City, while Michaels has its headquarters in Irving, Texas.
Hobby Lobby is privately owned by David Green, the person that founded it. Michaels has been owned by venture capital firm Apollo Global Management since the company bought it from private equity firms Blackstone Group and Bain Capital.
