{"id":703369,"date":"2026-05-18T00:00:00","date_gmt":"2026-05-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?p=703369"},"modified":"2026-05-18T12:38:54","modified_gmt":"2026-05-18T12:38:54","slug":"magrabi-retail-acquires-51-stake-in-egyptian-retailer-baraka-optics-group","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/05\/18\/magrabi-retail-acquires-51-stake-in-egyptian-retailer-baraka-optics-group\/","title":{"rendered":"Magrabi Retail acquires 51% stake in Egyptian retailer Baraka Optics Group"},"content":{"rendered":"<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">\ud83d\udd76\ufe0f <strong>Regional giant Magrabi Retail will acquire 51% of homegrown optical group Baraka Optics<\/strong>, according to <a href=\"https:\/\/ent.news\/internal\/703353.pdf\" target=\"_blank\" rel=\"noopener\">a joint statement (pdf)<\/a>. The transaction will bring together two of the country\u2019s biggest eyewear family businesses under a single corporate umbrella, with roughly 50 stores nationwide, Baraka Optics Chairman and CEO Ahmed Ragab tells EnterpriseAM. The value of the transaction was not disclosed.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Baraka Optics Group will be integrated into Magrabi Retail after the transaction is closed. <\/strong>Magrabi \u2014 based in Dubai despite launching in Cairo in 1927 \u2014 will take over day-to-day management, while Baraka Optics Group\u2019s current shareholders will retain board representation and strategic involvement, according to the statement.<\/p>\n<p><strong>What\u2019s next? <\/strong>Ragab will step down as CEO but keep his role as chairman, as Baraka retains two of the board\u2019s five seats, while day-to-day operational control transitions fully to Magrabi\u2019s platform under Magrabi CEO Yasser Taher.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>No one is exiting the business.<\/strong> \u201cWe\u2019re very clear that we don\u2019t want a full exit because we\u2019re not liquefying our investments; we\u2019re creating something \u2026 we\u2019re growing more,\u201d Ragab tells us. \u201cWe had the option to sell 100%, but we refused [because] we see the upside and the potential [of this partnership],\u201d he says.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The agreement includes structured put-and-call options mapped out for 2028 and 2030 to give the family ultimate optionality if Magrabi decides to track toward a regional IPO.<\/strong> If a public listing occurs within the next three years, Baraka's 49% stake will be swapped up to the regional holding company level in Dubai.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Maximizing valuation?<\/strong> The move follows Magrabi\u2019s merger <a href=\"https:\/\/enterpriseam.com\/uae\/2024\/09\/25\/magrabi-and-rivoli-vision-merge-for-regional-expansion\/\" target=\"_blank\" rel=\"noopener\">with Dubai-based Rivoli Vision<\/a> in September 2024 and its acquisition of <a href=\"https:\/\/enterpriseam.com\/ksa\/2025\/05\/20\/magrabi-to-take-over-kuwaits-kefan-optics\/\" target=\"_blank\" rel=\"noopener\">Kuwait\u2019s Kefan Optics<\/a> in May of last year, confirming a strategy to consolidate the company\u2019s position regionally ahead of <a href=\"https:\/\/www.agbi.com\/retail\/2022\/07\/vision-giant-magrabi-eyes-ipo-and-global-expansion\/\" target=\"_blank\" rel=\"noopener\">a potential IPO<\/a>, while also keeping their brand name. Magrabi currently operates over 350 stores across the GCC and Egypt, with Saudi Arabia as its biggest market.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Overlapping stores will stay open. <\/strong>Ragab said the combined entity doesn\u2019t plan on shutting down any locations despite significant overlap in high-end regional malls like Mall of Egypt, Cairo Festival City, and Mall of Arabia. \u201cWe saw this combination as complementary\u2026 rather than clashing,\u201d Ragab tells us, noting that they will continue to expand operations and open more stores together.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Operational logic beats optics: <\/strong>Don\u2019t expect to see Baraka-branded stores popping up across the GCC anytime soon just for the sake of global optics. \u201cWhatever makes sense commercially, we'll do,\u201d Ragab says. \u201cI don't have this ego that I want to open anything outside [of Egypt].\u201d Instead, the immediate runway will prioritize growth here at home. \u201cWith this new structure, what would have been reached in 10 years can be reached in two,\u201d he adds.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The perimeters of the play only cover optics: <\/strong><a href=\"https:\/\/baraka-group.com\/about-us\/\" target=\"_blank\" rel=\"noopener\">Baraka<\/a> runs a total of 24 stores across segments (including Baraka-branded stores, C&amp;CO and People), while <a href=\"https:\/\/www.magrabi.com\/eg-en\/?gad_source=1&amp;gad_campaignid=21273150620&amp;gbraid=0AAAAAC_bIVNJmVV_vXfIMv_uPsRkdPMq3&amp;gclid=CjwKCAjw-8vPBhBbEiwAoA39Wjj0RijzPjgZQ-niI0q-mjX60tyNGVofkC0qHAFxvvNeyNpGj5-T6BoC0nEQAvD_BwE\" target=\"_blank\" rel=\"noopener\">Magrabi<\/a> operates around 30 stores across the country, Ragab tells us. Baraka's budget mono-brand concept, JooJ, which Ragab freely admits is a model that \u201cdoesn't work in the eyewear [sector],\u201d is excluded from the agreement. Baraka\u2019s broader retail fashion and F&amp;B portfolio is also excluded.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">\n<strong>The move is still subject to customary regulatory approvals<\/strong>, including Egypt\u2019s competition watchdog. \u201cThere is a very thin line between competition and cooperation, and this is what the market needs,\u201d Ragab says.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The transaction will bring together two of the country\u2019s biggest eyewear family businesses under a single corporate umbrella, with roughly 50 stores nationwide<\/p>\n","protected":false},"author":1,"featured_media":703370,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8233],"tags":[633,1546,9068,7128,338],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-703369","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma","tag-enterprisepm","tag-lifestyle","tag-ma","tag-ma-watch","tag-retail","wpautop","entry"],"acf":{"mongo_id":"fc74398a-f9d5-4f2c-b8bb-6106212839c4","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2026\/5\/1082.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Eyewear giants Magrabi and Baraka consolidate local operations","related_issue":[703364],"teaser":"The transaction will bring together two of the country\u2019s biggest eyewear family businesses under a single corporate umbrella, with roughly 50 stores nationwide","photo_link":"","related_sponsor":"","voice_url":"","en_translation_ref_id":"","section_story_id":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Magrabi Retail acquires 51% stake in Egyptian retailer Baraka Optics Group - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/18\/magrabi-retail-acquires-51-stake-in-egyptian-retailer-baraka-optics-group\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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