MAGRABi Expands Footprint with Kefan Optics Acquisition
Deal News | May 19, 2025 | PR Newswire Cision MAGRABi Retail Group
MAGRABi Retail Group, the Middle East's leading eyewear retailer, has announced its intended acquisition of Kefan Optics Company KSCC, a major Kuwaiti retailer specializing in eyewear. This acquisition seeks to enhance MAGRABi's presence in Kuwait, adding over 37 stores to their network, expanding their reach to over 350 stores across the Middle East and North Africa region. The acquisition is part of MAGRABi's strategic M&A roadmap, focused on integrating its customer-centric ethos across the acquired stores while preserving the local identity of the Kefan brand. Kefan Optics, with a strong legacy and a significant market presence in Kuwait, complements MAGRABi's ambitions for growth and innovation, offering a seamless omnichannel experience. The acquisition, yet to be finalized pending regulatory approvals, is anticipated to fortify MAGRABi’s position as a market leader in eyewear retail across the region, especially by expanding customer experience offerings through both its physical and digital platforms.
Sectors
- Retail
- Mergers and Acquisitions
- Eyewear Industry
- Omnichannel Retail
Geography
- Middle East – MAGRABi Retail Group operates across seven countries in the Middle East, and this acquisition strengthens its presence in the region.
- Kuwait – The target company, Kefan Optics, operates in Kuwait where the acquisition is set to take place, expanding MAGRABi's market share there.
- Saudi Arabia – The MAGRABi Retail Group is headquartered in Saudi Arabia and plays a central role in this acquisition process.
Industry
- Retail – The article discusses the retail acquisition of Kefan Optics by MAGRABi Retail Group, both of which are heavily involved in the eyewear retail sector.
- Mergers and Acquisitions – The focus of the article is on the acquisition of Kefan Optics by MAGRABi Retail Group, a significant M&A activity in the eyewear retail industry.
- Eyewear Industry – Both companies, MAGRABi and Kefan Optics, operate within the eyewear industry, providing spectacles, contact lenses, and various optical services.
- Omnichannel Retail – MAGRABi's strategy includes strengthening their presence across physical stores and digital platforms, typical of an omnichannel approach.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| MAGRABi Retail Group | Bidding Company/Buyer | Company | A leading Middle Eastern eyewear retailer aiming to expand its presence through strategic acquisitions in the region. |
| Kefan Optics | Target Company | Company | A prominent Kuwaiti eyewear retailer known for its extensive local market presence and reputable customer service. |
| Amin Magrabi | Chair of MAGRABi Retail Group | Person | Chair overseeing MAGRABi's strategic direction and transformative acquisitions including Kefan Optics. |
| Wael Al-Subaih | Chairman of Kefan Optics | Person | Leader of Kefan Optics, under whose guidance the company has maintained a strong market position in Kuwait. |
| Yasser Taher | CEO of MAGRABi Retail Group | Person | CEO focusing on innovation and expansion, supporting the integration of Kefan Optics into MAGRABi's portfolio. |
| Kuwait Competition Protection Authority | Regulatory Body | Government | Government authority tasked with approving mergers and acquisitions to ensure competitive fairness in Kuwait. |
| Saudi General Authority for Competition | Regulatory Body | Government | Saudi authority responsible for maintaining competitive practices, necessary for the approval of MAGRABi's acquisitions. |