MAGRABI Retail Acquires Majority Stake in Egypt's Baraka Optics
MAGRABI Retail, the Middle East's largest eyewear retailer, has announced the proposed acquisition of a 51% stake in Baraka Optics Group, one of Egypt's largest premium optical retail chains. The deal, announced on 13 May 2026, remains subject to regulatory clearance from the Egyptian Competition Authority.
Yasser Taher, CEO of MAGRABI Retail, described the acquisition as a natural fit: "Baraka is a pioneer in Egyptian eyewear as one of the first entrants in organised retail, having set a new domestic standard in the space. The alignment in values and the premium retail positioning made this partnership a natural step for us."
Ahmed Ragab, Chairman and CEO of Baraka Optics Group, said the deal represents a continuation of the legacy his father began. "What makes this moment especially meaningful is that we are joining forces with a group that also understands the value of legacy, family, and long-term stewardship," Ragab said, adding that Baraka sees in MAGRABI "a like-minded family business with the vision and scale to build on what Baraka has proudly built since its founding in 1979."
The transaction is the third major acquisition MAGRABI Retail has completed in eighteen months, following the purchase of Rivoli Group's vision division in September 2024 and Kefan Optics in May 2025. The deal adds 23 stores across Egypt to MAGRABI's network of over 320 outlets, operating under the Baraka Optics, C&Co, and People banners. Following completion, MAGRABI will assume full day-to-day management of Baraka, with existing shareholders retaining seats on the board.
The timing reflects a deliberate bet on Egypt's economic recovery. Real GDP growth hit 5.3% in the latest fiscal quarter, and total household spending rose 23.1% in 2025, supported by IMF-backed reforms that have stabilised the exchange rate and reduced inflation. Despite those tailwinds, the optical retail sector in Egypt remains highly fragmented — a condition MAGRABI is positioning itself to capitalise on.
Amin Magrabi, Chairman of MAGRABI Retail, said the acquisition is consistent with the group's approach to M&A: "ensuring that each strategic move translates into tangible value for our clients." The company said the deal is expected to deliver commercial and operational synergies across sourcing, supply chain, and retail operations.
Founded in 1979 by Mohamed Fathy Ragab as a wholesale optics business, Baraka launched its first retail concept in 1984 and has remained family-owned since. Ahmed Ragab took over leadership from his father and has guided its expansion into a 23-store platform spanning Egypt.
