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Mideast cross-border M&A drive accelerates as Magrabi Retail targets Egypt expansion
Cross-border dealmaking gains pace in Mena as Magrabi Retail moves to acquire a majority stake in Egypt’s Baraka Optics, tapping recovery-driven consumer growth and consolidation trends
- PUBLISHED: Mon 18 May 2026, 8:22 PM
Cross-border mergers and acquisitions are accelerating across the Middle East and North Africa, as regional players expand into high-growth markets and fragmented sectors to build scale and capture rising consumer demand.
In the latest deal, Magrabi Retail has agreed to acquire a 51% stake in Egypt’s Baraka Optics Group, in a transaction subject to regulatory approvals.
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The move highlights growing investor interest in Egypt, where economic stabilisation and reforms have supported a recovery in consumer spending. Real GDP growth reached 5.3% in the latest fiscal quarter, while household spending rose by more than 23% in 2025. The optical retail sector in Egypt remains highly fragmented, creating opportunities for consolidation by regional players seeking expansion.
For Magrabi, the transaction marks its third major acquisition in 18 months, following earlier deals in the UAE and Kuwait, as it builds a regional platform through bolt-on acquisitions in targeted markets.
Founded in 1979, Baraka Optics has developed into a leading premium optical retailer in Egypt, with a network of 23 stores. The company will be integrated into Magrabi’s operations after completion, with the buyer taking over day-to-day management while retaining existing shareholders at board level.
Magrabi said the deal is expected to deliver operational efficiencies across sourcing, supply chains and retail operations, while supporting its expansion in Egypt’s growing consumer market.
Yasser Taher, chief executive of Magrabi Retail, said: “Premium eyewear is one of the fastest growing retail segments in Egypt. Our successes over the past few years are a clear reflection of 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, said: “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 built since its founding in 1979.”
The transaction underlines how regional companies are increasingly using cross-border acquisitions to consolidate markets, tap recovering economies and strengthen their presence in consumer-facing sectors.
