MAGRABI Retail has signed an agreement to acquire 100 per cent of Dubai Optical, one of the UAE’s oldest premium optical chains, in a move that extends the Saudi-founded group’s consolidation push across the region.
The transaction covers 15 of Dubai Optical’s stores, which trade under the Dubai Optical brand across Dubai, Sharjah, Fujairah, and Ajman. The company also operates four Optivision-branded locations, but those are excluded from the deal. Completion is subject to regulatory approval, including merger control clearance from the UAE Ministry of Economy.
Founded in 1978, Dubai Optical has positioned itself at the premium end of the UAE optical market across nearly five decades of operation. Under the terms agreed, it will be fully integrated into MAGRABI Retail while retaining its brand identity.
“Dubai Optical is an exceptional fit for MAGRABI Retail. It is a trusted brand with a longstanding heritage, a strong premium positioning and an established presence in many of the UAE’s most important 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. We see significant potential in Dubai Optical and look forward to building on the strength of the brand, backed by MAGRABI’s almost 100 years of vision care experience, while preserving the qualities that have earned the trust of its customers,” Yasser Taher, CEO of MAGRABI Retail said in a statement.
“Dubai Optical has built its reputation over decades through a distinctive premium offering and strong relationships with customers in the UAE. In MAGRABI Retail, we see a business with the regional scale and expertise to support the brand’s continued development while honouring the legacy built since 1978. We are confident it is the right partner for Dubai Optical’s next phase of growth,” Mashallah Younesi, Managing Partner of Dubai Optical added.
“Dubai Optical began with humble beginnings, built on the hard work, dedication, and vision of my father. Over the years, he established not just a successful business, but a legacy of trust, quality, and commitment to our customers. As we enter this new chapter with Magrabi, we are confident that they will preserve and build upon this legacy, bringing their expertise, resources, and vision to take Dubai Optical to even greater heights,” Arash Mahdi, Managing Partner of Dubai Optical further explained.
“Dubai Optical is a natural next step for MAGRABI Retail and gives further solidity to our M&A outlook. Our approach is disciplined: we look for established businesses that deepen our presence in priority markets and complement our portfolio, and Dubai Optical, with its longstanding premium brand and established footprint, is exactly that,” Amin Magrabi, Chairman of MAGRABI Retail added.
The deal follows a series of acquisitions the group has been pursuing across the region. MAGRABI has previously completed deals involving Rivoli’s optical retail division and Kefan Optics, and has a pending agreement to acquire a majority stake in Egypt’s Baraka Optics, subject to clearance from the Egyptian Competition Authority.
