NEW YORK (AP) — Craft labels from the now-shuttered fabrics seller Joann are making their way to a new home: Michaels.

The Michaels Companies announced on Thursday that it had completed its purchase of Joann’s intellectual property and private label brands — in an acquisition that arrives as the Texas-based arts and crafting chain works to expand its own fabric, sewing and yarn offerings.

“We’re honored to have the opportunity to welcome JOANN customers into our creative community and are committed to delivering the selection, value, and inspiration they are looking for at Michaels,” Michaels CEO David Boone said in a statement. The deal, he added, allows the company to better “respond to rising demand” among both new and existing customers.

Financial terms of the acquisition were not disclosed. The Associated Press reached out to Michaels for further information on Friday.

With roots dating back to a single Ohio storefront in 1943, Joann had grown into a destination for generations of sewers, quilters, knitters and lovers of other crafts for more than 80 years. But more recently, operational challenges continued to pile up — with the retailer pointing to sluggish consumer demand, inventory shortages and rising competition.

Joann announced it would be going out of business back in February, just one month after filing for Chapter 11 bankruptcy protection for the second time within a year.