Bain Capital will acquire Gong cha from shareholders including TA Associates, further expanding its investment in the food and beverage industry. The specific transaction value has not been disclosed, and the terms remain unclear.
Bain Capital announced that it will acquire Gong cha from shareholders including TA Associates. The transaction value and terms have not been disclosed, but the deal was reported to potentially be worth as much as $2 billion.
The transaction is expected to close in the fourth quarter of 2026. Gong cha currently operates approximately 2,200 stores across 33 markets. It offers cold beverages including milk tea and fruit tea, and has a particularly strong presence in Japan, Australia and South Korea.
TA Associates is reported to have invested in Gong cha in 2019. Bain Capital’s current investments in the food and restaurant sector include Domino’s Pizza Japan, Fogo de Chão and Sizzling Platter.