It was announced today that Michael’s, headquartered in Irving, Texas has purchased all 34 of the Pat Catan’s art and craft stores in Ohio, Pennsylvania and West Virginia. Pat Catan’s is the retail division of Darice (aka Lamrite West) which is located in Strongsville, Ohio.
Michaels said Tuesday it paid $150 million in cash for Ohio-based Lamrite West Inc., which in addition to its Pat Catan’s craft stores has a wholesale supply business. That operation can help Michaels develop more of its private brands, said Michaels CEO Chuck Rubin.
Darice also spawned an online retail division, ConsumerCrafts, which it sold three years ago to Stonegate Properties in Delaware.
It is unclear at this time what will happen retail stores.
Pat Catan’s was founded by Pat Catan in 1954 and is currently run by his children. Pat Catan’s stores have offered their customers a wide variety of craft supplies, often things no longer found in other art and craft stores, at reasonable prices.
Lamrite West will continue to operate out of its Strongsville, Ohio headquarters as a separate division within Michaels. Michael Catanzarite, will continue to run that business as CEO of Lamrite West and will join Michaels’ executive committee.
You can read the release from the Dallas Daily News here.
We will update as new information rolls in.
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I used to shop at (what I thought was) the first Pat Catan’s store near Denison & West 65th street. Close to the old stockyards. It seemed very small and crowded….in my shadowy memory. The prices were always the best around. That’s also near where the Rollercade used to be. It’s amazing how far Pat Catan’s has come. Sad to see it go….we all know the lower prices will go too.
Really sad to hear another hometown-type operation falls to the Big Boxes. Far less product diversity and higher prices camouflaged by website and coupon hype is not what we need.
I am very sorry to see this happen. I used to shop at a Pat Catan’s near Monroeville, PA and the selection and pricing was much better than any of the other craft stores. Not only could I find things there that weren’t in the other ones, but their pricing was so much better and you didn’t have to play the coupon game that you do at the others. Where I live now are Michaels, JoAnn, and AC Moore and most of the time I shop online as I can never find what I want at any of them, or it’s on sale for 10% off so you can’t use a coupon. Tired of it all.