Magrabi Retail to Acquire 51% Stake in Baraka Optics

Saudi-based eyewear retailer Magrabi Retail has announced plans to acquire a 51% stake in Baraka Optics Group, one of Egypt’s largest premium optical retail chains.

The transaction remains subject to regulatory approvals, including clearance from the Egyptian Competition Authority.

Founded in 1979 by Mohamed Fathy Ragab, Baraka began as a wholesale optics business before expanding into organised retail operations across Egypt. The company remains family-owned and is currently led by Chairman and CEO Ahmed Ragab.

According to the companies, Baraka Optics will be integrated into Magrabi Retail following completion of the deal, with Magrabi assuming day-to-day management responsibilities while existing shareholders retain representation on the board.

The companies stated that the transaction is expected to support operational and commercial synergies across sourcing, supply chain management, and retail operations, alongside future expansion plans within the Egyptian market.

Magrabi Retail also noted that Egypt’s optical retail sector remains highly fragmented, presenting opportunities for consolidation through acquisitions and brand integration.

The planned acquisition follows a wider regional expansion strategy by Magrabi Retail, which acquired Rivoli Group Vision Division in 2024 and Kefan Optics in 2025.