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Bain Capital to Buy Bubble Tea Chain Gong Cha From TA Associates and Others
Bain Capital said it will expand Gong cha in Japan, South Korea and the U.S. after winning the sale of the 2,200-store bubble tea chain.
- On Aug 6, Bain Capital announced an agreement to acquire the bubble tea chain Gong Cha from private equity firm TA Associates, adding the global brand to its growing food and beverage portfolio.
- Bain secured the acquisition after competing against MBK Partners, which faced regulatory scrutiny in South Korea following the collapse of its portfolio company Homeplus, which required 200 billion won in emergency funding.
- Gong sells beverages through nearly 2,200 stores across 33 markets, maintaining strong presence in Japan, Australia, and South Korea; Reuters reported the sale could fetch up to $2 billion.
- Expected to close in the fourth quarter of 2026, the transaction positions Bain to accelerate growth in Central America while expanding the brand's footprint in Japan and South Korea.
- The acquisition extends Bain's portfolio of food and beverage holdings, which already includes Domino Pizza Japan, Brazilian steakhouse chain Fogo Chao, and restaurant franchise operator Sizzling Platter.
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13 Articles
13 Articles
Bain Capital to buy bubble tea chain Gong cha from TA Associates and others
·London, United Kingdom
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Bain Capital to Buy Gong cha as Bubble Tea Chain Refocuses Overseas
Bain Capital to Buy Gong cha as Bubble Tea Chain Refocuses Overseas - The acquisition comes as Gong cha, after retreating from the Chinese mainland, seeks growth in overseas markets while facing intensifying competition from rapidly expanding rivals
·Beijing, China
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(Seoul = Yonhap News) Reporter Jeong Hoe-in = Global private equity firm Bain Capital is acquiring milk tea franchise Gong Cha.
·Seoul, Korea (the Republic of)
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Coverage Details
Total News Sources13
Leaning Left1Leaning Right4Center3Last UpdatedBias Distribution50% Right
Bias Distribution
- 50% of the sources lean Right
50% Right
13%
C 37%
R 50%
Factuality
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