MIK meaning in Business ?

Michaels Stores, Inc. (Michaels) is a privately-held chain of 1,252 American and Canadian arts and crafts stores, as of January 2021. It is one of North America's largest provider of arts, crafts, framing, floral and wall décor, and merchandise for makers and do-it-yourself home decorators. The company was founded in 1973 by Michael J. Dupey in Dallas, Texas. The company is part of The Michaels Companies, Inc., founded in 2014 and headquartered in Irving, Texas. In addition to Michaels stores, The Michaels Companies operates Aaron Brothers Custom Framing store-within-a-store, and Artistree, a manufacturer of custom and specialty framing merchandise. The company also develops over a dozen private brands sold in Michaels stores, including Recollections, Studio Décor, Bead Landing, Creatology and Ashland. In March 2021, Michaels parent The Michaels Companies agreed to be acquired by private equity company Apollo Global Management, and the acquisition was completed in April 2021.