Deal will add 15 stores across four UAE emirates to MAGRABI Retail’s network.
MAGRABI Retail, the Middle East’s largest eyewear retailer, has signed an agreement to acquire 100 per cent of Dubai Optical, one of the UAE’s longest-established premium optical retailers.
Completion of the transaction is subject to customary closing conditions, including merger control clearance from the UAE Ministry of Economy.
Founded in 1978, Dubai Optical was among the pioneers of the UAE’s organised optical retail sector and has become one of the country’s best-known premium optical brands.
The company operates 19 stores under the Dubai Optical and Optivision brands across four of the UAE’s seven emirates: Dubai, Sharjah, Fujairah and Ajman. Under the agreement, MAGRABI Retail will acquire the 15 stores operating under the Dubai Optical brand.
Following completion, Dubai Optical will be fully integrated into MAGRABI Retail while retaining its heritage and identity. The acquisition is expected to create commercial and operational synergies by drawing on MAGRABI Retail’s global agreements, retail expertise and vision care standards.
Yasser Taher, CEO of MAGRABI Retail, said Dubai Optical was a strong fit for the group, citing its established reputation, premium positioning and presence in key UAE retail destinations.
“Our strategy is not simply about adding scale. It is about investing in strong local businesses with distinctive identities and giving them the capabilities, resources, and platform to achieve their next phase of growth,” he said.
Taher added that the group saw significant potential in the brand and intended to build on its strengths, supported by MAGRABI’s nearly 100 years of experience in vision care, while preserving the qualities that had earned customer trust.
Mashallah Younesi, Managing Partner of Dubai Optical, said the company had built its reputation over decades through its premium offering and strong customer relationships in the UAE.
He said MAGRABI Retail offered the regional scale and expertise to support the brand’s continued development while respecting the legacy established since 1978.
Arash Mahdi, Managing Partner of Dubai Optical, described the acquisition as a new chapter for the business, which was founded by his father.
“Over the years, he established not just a successful business, but a legacy of trust, quality, and commitment to our customers,” Mahdi said.
He added that the family was confident MAGRABI would preserve and build on that legacy, using its expertise and resources to support the brand’s future growth.
Amin Magrabi, Chairman of MAGRABI Retail, described Dubai Optical as a natural addition to the group’s portfolio and a further step in its mergers and acquisitions strategy.
He said the group focused on established businesses that strengthen its presence in priority markets and complement its existing brands.
While Saudi Arabia remains central to MAGRABI Retail’s identity and long-term strategy as its home and founding market, Magrabi said the UAE was also a key priority.
He pointed to the UAE’s importance as a hub for retail, tourism and talent, adding that the country’s market fundamentals and continued recovery supported the group’s long-term confidence in optical retail.
The acquisition further advances MAGRABI Retail’s mergers and acquisitions roadmap, following its previously announced and completed transactions involving Rivoli’s optical retail division and Kefan Optics.
The group has also agreed to acquire a majority stake in Baraka Optics, a deal that remains subject to customary regulatory approvals, including clearance from the Egyptian Competition Authority.
MAGRABI Retail said the transactions follow a common strategy of raising industry standards and improving customer experience while preserving the local heritage and identity of the brands it acquires.
