Gong cha Global joins Bain Capital portfolio
The transaction is expected to close in Q4 2026.
Bain Capital has agreed to acquire bubble tea chain Gong cha Global from TA Associates and other shareholders, the companies said.
“We are grateful to TA for its partnership and shared commitment to Gong cha’s long-term success," said Paul Reynish, Global CEO of Gong cha. “As we begin this next chapter with Bain Capital, we look forward to building on this momentum and bringing more high-quality whole leaf tea to consumers around the world.”
Gong cha operates nearly 2,200 stores across 33 markets, with major operations in Asia-Pacific, including Japan, South Korea, and Australia, as well as an expanding presence in the Americas and Europe.
The company says it serves more than 150 million beverages annually through a franchise-based business model.
Following the acquisition, Bain Capital said it will work with Gong cha's management team as the company continues expanding its store network.
The strategy includes further growth in Japan and South Korea, whilst accelerating expansion in the US through its direct franchising model.
The company also plans to invest in new products, digital marketing, and customer loyalty programmes.
Bain Capital has previously invested in consumer and restaurant businesses, including Domino's Pizza Japan, Skylark, York Holdings, Fogo de Chão, Sizzling Platter, Gail's, and Retail Zoo.
Financial terms of the deal were not disclosed.
The transaction is expected to close in the fourth quarter of 2026, subject to customary closing conditions.
