MAGRABI RETAIL SIGNS AGREEMENT TO ACQUIRE A MAJORITY STAKE OF LEADING EGYPTIAN RETAILER BARAKA OPTICS GROUP – Middle East Business News and Information – mid-east.info

MAGRABI Retail, the Middle East’s largest eyewear retailer, has signed an agreement to acquire 51% of the issued share capital of Baraka Optics Group, one of Egypt’s most established premium optical retailers. The transaction is subject to customary regulatory approvals, including review by the Egyptian Competition Authority. The partnership strengthens access to premium eye care and eyewear across Egypt and marks MAGRABI’s third major acquisition in the past eighteen months, further expanding its regional leadership and customer reach.

Transaction Overview

Upon completion, Baraka Optics Group will be integrated into MAGRABI Retail, with MAGRABI assuming day-to-day management. A strategic partnership will be maintained with Baraka’s existing shareholders to ensure continuity, smooth integration, and sustained growth in Egypt. The current shareholders will continue to serve on the Baraka Board of Directors, providing oversight and strategic guidance.

About Baraka Optics Group

Established in 1979 by Mohamed Fathy Ragab as a wholesale optics business, Baraka introduced its first retail concept in 1984 and became a pioneer of organized optical retail in Egypt. Today, the company operates 23 stores nationwide under the Baraka Optics, C&Co, and People banners. Still family-led, Baraka is chaired and managed by Ahmed Ragab, who has advanced the founder’s legacy through modernization, customer-centric service, and premium curation.

Strategic Rationale and Market Outlook

Egypt’s large and growing consumer base, improving macroeconomic backdrop, and rising household spending underpin a compelling retail opportunity. Real GDP growth has accelerated in recent quarters, while a stabilizing exchange rate, easing inflation, and a tightening labor market support stronger consumer confidence in a market exceeding 110 million people. Despite its size, the optical retail sector remains fragmented, creating a strong case for consolidation led by trusted, premium brands.

Within this context, Baraka stands out as a leading premium optical platform in Egypt, making it a natural complement to MAGRABI’s multi-banner portfolio and regional scale. The combination is expected to deliver significant commercial and operational synergies across sourcing, supply chain, and retail operations, strengthening product availability, service standards, and customer experience nationwide.

Integration and Synergies

Following closing, Baraka will become part of MAGRABI Retail’s operating network. The integration will focus on:

• Optimized sourcing and procurement to enhance assortment and value
• Supply chain efficiencies and improved inventory flow across stores
• Retail best practices, omnichannel capabilities, and consistent service standards

This approach aims to preserve Baraka’s brand heritage and local identity while leveraging MAGRABI’s regional expertise and infrastructure.

Building on a Proven M&A Track Record

The proposed transaction follows MAGRABI Retail’s acquisitions of Rivoli Group’s vision division in September 2024 and Kefan Optics in May 2025. Each deal has aligned with MAGRABI’s strategy to elevate industry standards, enhance client experience, and grow responsibly by partnering with leading local brands.

Leadership Commentary

Yasser Taher, CEO of MAGRABI Retail, said: “Baraka helped set the benchmark for Egypt’s organized optical retail and has been built on trust, family values, and premium positioning. Our shared values and commitment to excellence make this partnership a natural next step. Premium eyewear is among the fastest-growing retail segments in Egypt, and we are delighted to welcome Baraka into the MAGRABI family.”

Ahmed Ragab, Chairman and CEO of Baraka Optics Group, commented: “Baraka is a family legacy shaped by vision, service, and deep customer understanding. Joining forces with MAGRABI, a like-minded family business and market leader, allows us to build on what we have proudly created since 1979. We enter this next chapter with confidence and respect for the strengths both businesses bring.”

Amin Magrabi, Chairman of MAGRABI Retail, added: “This transaction reflects our longstanding vision to deliver tangible value for clients across the region. We are pleased to welcome Baraka to the Group as we continue to lead in eye care excellence and deliver an unparalleled customer experience.”

About MAGRABI Retail

MAGRABI Retail is the largest eyewear retailer in the MENA region, operating across seven countries with a network of more than 320 stores and a growing omnichannel presence. The Group blends distinctive retail concepts with full eye care solutions, premium optical services, and a diverse portfolio of proprietary and third-party brands. Its multi-banner platform includes MAGRABi, the region’s largest luxury eyewear chain; Rivoli Eyezone, a leading premium banner; Doctor M, a dynamic lifestyle and mainstream brand; and Kefan Optics in Kuwait. Founded in 1981 as a retail extension of MAGRABi Health, MAGRABI Retail also operates the Lens Innovation Center, the region’s largest state-of-the-art lens manufacturing facility supplying all its stores. The Group employs more than 2,400 experts focused on delivering high-quality, fashion-forward eyewear and clinical excellence.

About Baraka Optics Group

Baraka Optics Group began in 1979 as a wholesale optics venture and expanded into retail with its first concept launched in 1984. Today, the family-led company operates 23 stores across Egypt under the Baraka Optics, C&Co, and People banners, recognized for curation, service, and customer trust. As part of the broader Baraka Retail Group, the business encompasses interests in optics, fashion, and e-commerce across Egypt and the GCC, and is led by Chairman and CEO Ahmed Ragab.

The transaction is expected to close following customary regulatory clearances.