MAGRABI Retail, the Middle East’s largest eyewear retailer, has announced a definitive agreement to acquire a 51% majority stake in Baraka Optics Group, one of Egypt’s leading premium optical retail chains.
The transaction, which marks MAGRABI’s third major acquisition in the last 18 months, is subject to customary regulatory approvals, including clearance from the Egyptian Competition Authority.
Upon completion, MAGRABI will assume full day-to-day management of the business while maintaining a strategic partnership with Baraka’s existing shareholders, who will retain seats on the Board of Directors.
Founded in 1979 as a wholesale business before pioneering organized optical retail in Egypt in 1984, the family-owned Baraka Optics Group has grown to operate 23 stores nationwide under the Baraka Optics, C&Co, and People banners.
This strategic acquisition aims to capitalize on significant commercial and operational synergies across sourcing, supply chain, and retail operations. By integrating Baraka into its portfolio, MAGRABI seeks to consolidate its regional leadership in Egypt’s highly fragmented optical market, leveraging the country’s recent macroeconomic recovery, stabilizing exchange rates, and growing consumer spending.
The transaction follows MAGRABI’s recent acquisitions of Rivoli Group’s vision division in September 2024 and Kefan Optics in May 2025, further executing the company’s regional growth and M&A roadmap.
Leadership from both organizations expressed strong alignment in corporate values and long-term vision. Yasser Taher, CEO of MAGRABI Retail, highlighted premium eyewear as one of Egypt’s fastest-growing retail segments, welcoming Baraka’s established heritage into the group.
Ahmed Ragab, Chairman and CEO of Baraka Optics Group, echoed this sentiment, noting that partnering with a fellow family-led market leader ensures the long-term stewardship and expansion of his family’s decades-long legacy.
