This partnership strengthens 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 a 51% stake in Baraka Optics Group, one of Egypt’s leading premium optical retail chains. The deal remains subject to standard regulatory approvals, including clearance from the Egyptian Competition Authority.
Founded in 1979 by Mohamed Fathy Ragab as a wholesale optics business, Baraka later evolved into one of Egypt’s early pioneers in organised optical retail, launching its first retail concept in 1984. Built on a strong foundation of curation, customer service, and market insight, the company has grown into a major optical retail platform with 23 stores nationwide under the Baraka Optics, C&Co, and People brands.
Remaining family-owned since its founding, Baraka is currently led by Chairman and CEO Ahmed Ragab, who has built on his father’s vision to support the company’s continued growth, modernization, and leadership in the Egyptian market.
This strategic partnership represents an important milestone in MAGRABI’s regional expansion and M&A strategy, which focuses on complementary bolt-on acquisitions across targeted geographic and retail segments.
Despite recent regional volatility, Egypt’s macroeconomic outlook and consumer spending have improved significantly in the wake of economic reforms and stabilization efforts supported by the IMF over the past two years.
Real GDP growth in the most recent fiscal quarter reached 5.3%, while total household spending rose by 23.1% in 2025. Easing macroeconomic pressures, a more stable exchange rate, lower inflation, and a tightening labor market are expected to further boost consumer demand in Egypt’s population of around 110 million.
Despite the market’s size, Egypt’s optical retail sector remains highly fragmented, creating strong opportunities for consolidation. Within this landscape, Baraka is recognised as one of the country’s most established and respected premium optical brands, further strengthening MAGRABI’s position.
Following completion of the deal, Baraka will be integrated into MAGRABI Retail, with MAGRABI taking over full day-to-day management. At the same time, a strategic partnership will be maintained with Baraka’s existing shareholders to ensure smooth integration and support the brand’s continued growth and expansion across Egypt.
The acquisition is expected to deliver meaningful commercial and operational synergies across sourcing, supply chain, and retail operations. Existing shareholders will also remain involved through seats on the Baraka Board of Directors, ensuring continuity and strategic oversight as the company enters its next phase of expansion.
This transaction represents another milestone in MAGRABI Retail’s broader M&A strategy, following the acquisitions of Rivoli Group’s vision division in September 2024 and Kefan Optics in May 2025. Each deal follows a consistent approach focused on raising industry standards and enhancing customer experience while preserving the local heritage and identity of the brands it partners with.
Yasser Taher, CEO of MAGRABI Retail, said: “Baraka is a pioneer in Egyptian eyewear, having been one of the first entrants in organised retail and setting a new domestic standard in the sector. The company has been built on a strong foundation of trust and family values. The alignment in values and its premium positioning made this partnership a natural fit for us. Premium eyewear is one of the fastest-growing retail segments in Egypt. Our recent successes reflect 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 for our family; it began with a vision first shaped by my father, Mohamed Fathy Ragab, and has been built carefully 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 shares our values 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 created since 1979. We look forward to this next chapter with confidence and respect for what both businesses represent.”
Amin Magrabi, Chairman of MAGRABI Retail, said: “As with every M&A led by the Group, this transaction reflects MAGRABI’s long-term vision, ensuring that each strategic move translates into tangible value for our clients. 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.”
