JOANN, Inc./Jo-Ann Stores, LLC (NASDAQ: JOAN) is an American specialty retailer of crafts and fabrics. It operates the retail chains JOANN Fabrics and Crafts and Jo-Ann Etc. Their stores sell a variety of fabrics and sewing supplies, craft materials, frames, home decorations, artificial floral items, and seasonal goods. Their first store opened in 1943 in Cleveland, OH. Today, JOANN has grown to become one of the nation’s largest fabric and crafts retailers. In 2021, the company went public but is majority owned by Leonard Green & Partners. As of January 2023, the brand owns and operates over 830 stores in 49 states. The company has an S&P credit rating of CCC+ and a long-term Moody’s rating of Caa2. In 2022, the company earned a revenue of $2.25B and had a market cap of $0.11B. The company is headquartered in Hudson, OH.

Leonard Green & Partners is an American private equity investment firm. They operate and invest in 120 platform companies across multiple business sectors, with $70 billion of assets under management. Founded in 1989, they invest in the form of traditional buyouts, going-private transactions, recapitalizations, growth equity, and selective public equity and debt positions. The company’s platforms include Caliber Collision, Joann’s Fabrics, Mister Car Wash, Sun Auto Tire & Service, Velvet Taco, Zaxby’s, and many more. They are headquartered in Los Angeles, CA.