As a sommelier and brewer, my expertise lies in the world of fine wines and craft beers. However, I do have knowledge about various companies and their ownership structures. In this case, we are exploring the ownership of Michaels, the well-known arts and crafts retail chain.
Michaels Companies, as of April 2021, is owned by Apollo Global Management, a prominent venture capital firm. This acquisition was finalized in April after the management of Michaels agreed to be acquired by Apollo for a purchase price of $22 per share, totaling a significant $3.3 billion. The deal resulted in Michaels going private, meaning its shares are no longer publicly traded on stock exchanges.
Apollo Global Management, founded in 1990, has a diverse portfolio of companies across various sectors. They specialize in private equity, credit, and real estate investments. With their extensive experience in managing and growing businesses, Apollo saw potential in Michaels and decided to acquire the company.
It's important to note that the ownership of companies can change over time, and it's crucial to stay updated with the latest news and announcements. In this case, Apollo Global Management now holds ownership of Michaels, and they have the opportunity to leverage their expertise and resources to further develop and expand the business.
While I may not have personal experiences or situations directly related to the ownership of Michaels, as a professional in the beverage industry, I understand the importance of staying informed about the business landscape and the various ownership structures in different sectors.
Michaels Companies is currently owned by Apollo Global Management, a venture capital firm that successfully completed the acquisition in April 2021. Their ownership brings new opportunities and possibilities for the growth and development of Michaels in the arts and crafts retail sector.