Magrabi Retail signs agreement to acquire a majority stake of leading Egyptian retailer Baraka Optics Group

MAGRABI Retail, the Middle East’s largest eyewear retailer, announces the proposed acquisition of 51per cent of the issued share capital of the Baraka Optics Group, one of the largest premium optical retail chains in Egypt. The transaction remains subject to customary regulatory approvals, including clearance from the Egyptian Competition Authority.

Founded in 1979 by Mohamed Fathy Ragab as a wholesale optics business, Baraka evolved into one of the pioneers of organized optical retail in Egypt, with the launch of its first retail concept in 1984. Built on a strong heritage of curation, service, and market understanding, the Company has grown into a leading optical retail platform operating 23 stores across the country under the Baraka Optics, C&Co, and People banners.

Remaining family-owned since its inception, Baraka is led today by Chairman and CEO Ahmed Ragab, who has built on his father’s founding vision to drive the company’s continued growth, modernization, and leadership in the Egyptian market.

This strategic partnership marks a significant step in MAGRABI’s regional growth and M&A strategy, predicated on complementary bolt-on transactions in pre-identified geographic and retail market segments.

Despite recent regional volatility, following economic reforms and stabilization efforts supported by the IMF over the past two years, Egypt’s macroeconomic outlook and consumer spending trends have improved significantly.

Real GDP growth in the latest fiscal quarter hit 5.3%, with total household spending increasing by 23.1% in 2025. Reduced macro headwinds, a stable exchange rate, lower inflation, coupled with a tightening labor market, are expected to further stimulate the consumer in this 110 million strong market.

Despite the size of the market, the optical retail sector in Egypt remains highly fragmented. The country’s economic recovery presents a compelling opportunity for consolidation. Within Egypt, Baraka stands out as one of the most established and respected premium optical brands in the market and a further reinforcement to MAGRABI’s position.

Following completion, Baraka will be integrated into MAGRABI Retail, with MAGRABI assuming full day-to-day management of the business. MAGRABI will maintain a strategic partnership with Baraka’s existing shareholders, ensuring seamless integration and supporting the ongoing development and expansion of the business across Egypt.

The acquisition is expected to generate significant commercial and operational synergies across sourcing, supply chain, and retail operations. The current shareholders will serve on the Baraka Board of Directors, ensuring continuity and providing strategic guidance as the company enters its next phase of expansion.

This transaction marks another key milestone in MAGRABI Retail’s strategic M&A roadmap, following the acquisitions of Rivoli Group’s vision division in September 2024 and Kefan Optics in May 2025. Each acquisition is guided by the same principle: to elevate industry standards and clients’ experience while preserving the local heritage and identity of the brands it partners with.

Yasser Taher, CEO of MAGRABI Retail, commented: “Baraka is a pioneer in Egyptian eyewear as one of the first entrants in organized retail, having set a new domestic standard in the space. The company has been built on a strong foundation of trust and family values. The alignment in values and the premium retail positioning made this partnership a natural step for us. Premium eyewear is one of the fastest growing retail segments in Egypt. Our successes over the past few years are a clear reflection of MAGRABI’s strong growth strategy, and I’m delighted to welcome Baraka into the MAGRABI family.”

Ahmed Ragab, Chairman and CEO of Baraka Optics Group, added: “For decades, Baraka has been more than a business to our family; it has been a vision first shaped by my father, Mohamed Fathy Ragab, and built with great care over the years through trust, service, and a deep understanding of our customers. 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. We see in MAGRABI not only a market leader, but also a like-minded family business with the vision and scale to build on what Baraka has proudly built since its founding in 1979. We look forward to this next chapter with confidence and with great respect for what both businesses represent.”

Amin Magrabi, Chairman of MAGRABI Retail, said: “As with every M&A led by the Group, this transaction is rooted in MAGRABI’s longstanding vision, ensuring that each strategic move translates into tangible value for our clients, and we are very pleased to welcome Baraka to the Group. Our ambition remains clear: to be at the forefront of eye care excellence in the Middle East while delivering an unparalleled customer experience.”