MAGRABI Retail to acquire a majority stake of Baraka Optics Group

This partnership fortifies access to premium eye care and eyewear services across Egypt

MAGRABI Retail, the Middle East’s largest eyewear retailer, has announced the proposed acquisition of 51% 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.

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.

Operational synergies

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.

“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,” noted Yasser Taher, CEO, MAGRABI Retail.

Confidence

“We look forward to this next chapter with confidence and with great respect for what both businesses represent,” commented Ragab.

“Our ambition remains clear: to be at the forefront of eye care excellence in the Middle East while delivering an unparalleled customer experience,” added Amin Magrabi, Chairman, MAGRABI Retail.