Magrabi Retail, the largest eyewear retailer in the Middle East, has announced plans to acquire a 51 percent stake in Egypt’s Baraka Optics Group. The deal is part of the company’s wider expansion strategy in the region’s growing optical retail market.
The transaction is still subject to regulatory approval, including clearance from the Egyptian Competition Authority. Once completed, it will mark one of the most significant consolidation moves in Egypt’s eyewear sector in recent years.
Baraka Optics is one of Egypt’s leading premium optical retail chains. It operates 23 stores across the country under several brands, including Baraka Optics, C&Co, and People. The company was founded in 1979 by Mohamed Fathy Ragab as a wholesale optics business before expanding into retail in 1984.
Today, Baraka remains a family-owned business and is led by Chairman and Chief Executive Officer Ahmed Ragab. Under his leadership, the company has expanded its retail presence and modernized its operations while maintaining its long-standing brand identity.
Magrabi Retail said the acquisition fits into its strategy of “bolt-on” investments aimed at strengthening its presence in key regional markets. The company has recently pursued similar deals as part of its push to expand its footprint across the Middle East and North Africa.
Egypt’s economy has shown signs of recovery in recent years following reforms and stabilization efforts supported by international institutions. Growth in consumer spending has improved, creating a more favorable environment for retail expansion, especially in large markets with rising demand.
Industry analysts note that Egypt’s optical retail sector remains highly fragmented, with many small and mid-sized operators. This creates opportunities for larger companies to consolidate brands and improve efficiency through scale.
Magrabi said it expects the acquisition to generate operational and commercial benefits, particularly in sourcing, supply chain management, and retail operations. The company also plans to integrate Baraka into its wider business structure while maintaining continuity through existing leadership representation.
Following the acquisition, Magrabi will take over day-to-day management of Baraka Optics. However, Baraka’s current shareholders will remain involved at the board level to support long-term strategy and ensure smooth integration.
This deal follows Magrabi’s earlier acquisitions, including Rivoli Group’s vision division in 2024 and Kefan Optics in 2025. These moves reflect the company’s consistent focus on expanding its eyewear portfolio across the region.
Company executives said the acquisition is driven by strong growth potential in Egypt’s premium eyewear market. Rising consumer demand and increased spending on health and lifestyle products have made the sector more attractive to investors.
Magrabi Retail leadership emphasized that the company aims to preserve the identity and heritage of acquired brands while improving service quality and operational performance. The approach is designed to balance growth with local market understanding.
Baraka Optics leadership also welcomed the partnership, describing it as a natural alignment between two family-rooted businesses with shared values. The company said the partnership would support its next phase of growth in Egypt.
Once finalized, the deal is expected to strengthen Magrabi’s position as a dominant player in the regional eyewear industry while expanding Baraka’s reach within Egypt’s growing consumer market.
