Bain Capital to acquire Gong cha from TA Associates
- Gong cha operates nearly 2,200 stores in 33 international markets
- The deal is expected to close in the fourth quarter of 2026
- Gong cha was founded in 2006
Bain Capital has entered into an agreement to acquire Gong cha from TA Associates.
Headquartered in London, Gong cha is a tea brand. It serves tea beverages, including milk tea, fruit tea and other cold drinks. Founded in 2006, Gong cha operates nearly 2,200 stores in 33 international markets, serving more than 150 million beverages annually to customers worldwide.
“Gong cha has built a distinctive and globally recognized brand with a loyal customer base and franchisee economics that are among the strongest in the sector,” Naofumi Nishi, a partner at Bain Capital, said in a statement. “The management team’s disciplined approach to store expansion has created a strong platform with significant room to grow across Asia Pacific, including in Japan, and the Americas. We look forward to partnering with the team to support the next phase of the Group’s growth and continuing to develop its operations and marketing, which has been fundamental to its success to date.”
The transaction is expected to close in the fourth quarter of 2026, subject to customary closing conditions.
TA invested in Gong cha in 2019. According to a statement, the firm supported Gong cha through its global expansion strategy, and completion of strategic M&A, such as the recent acquisition of its US East and West Coast master franchisee rights.
“Gong cha has built a highly differentiated brand, supported by a great team, a strong global network of franchisees and a unique menu of beverages centered around whole leaf tea that continues to resonate with consumers worldwide,” Edward Sippel, managing director at TA Associates, said in a statement.
