Michaels Owner Bidding For UK Retailer HobbyCraft

Craft News
Written By Nancy Nally

The UK craft trade magazine Craft Business is reporting that private equity group Blackstone, which along with Bain Capital purchased Michaels in 2006, is now bidding to purchase UK craft retailer HobbyCraft.

The company has been for sale since late last year. Competition for the purchase is fierce, attracting reportedly as many as 20 bidders.

HobbyCraft, founded in 1995, is the UK's only dedicated craft chain store. It currently has 47 stores and plans to expand to 180.

Nancy Nally

I’m the owner of Nally Studios LLC, which owns the websites Nally Studios and Craft Critique. I’ve spent the last 20 years working in the crafts industry as a writer and marketing consultant. My newest venture is the Nally Studios etsy store, where I sell digital files for scrapbookers. I live in Florida with my husband, teenage daughter, and a cat who thinks its a dog.

https://www.nallystudios.etsy.com
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