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.

The move comes amid growing interest in fabrics and sewing at Michaels, but it’s not clear what it means for the Joann brand.

Your favorite brands have found a new home. Michaels just acquired the intellectual property and private label brands of Joann Fabrics. The craft store is also expanding its fabric, sewing, and yarn offerings with more than 600 new products.