Bain Capital to Acquire Gong cha: Global Expansion and U.S. Growth Plans

Bain Capital announced in a company press release that it has reached an agreement to acquire global bubble tea franchisor Gong cha Global from private equity firm TA Associates. The deal is slated to close in the fourth quarter.

Gong cha, which was founded in Taiwan and is currently headquartered in the United Kingdom, has grown to be a major player in the international tea market. Currently, the brand boasts over 2,200 locations across 33 markets. Gong cha 2.0, its new digital kitchen layout that uses automated drink-dispensing technology, has driven major advances in operational efficiency and higher throughput and is a key factor in its recent footprint growth.

Under Bain Capital’s ownership, Gong cha plans to strengthen its presence in key Asia-Pacific markets such as Japan and South Korea while adding more U.S. locations through direct franchising.

Bain Capital brings substantial restaurant and franchising experience, having invested in brands like Domino’s Pizza Japan and Sizzling Platter. Following the Gong cha acquisition, the firm aims to apply its operational playbook to improve supply chain, brand marketing and franchisee profitability.

“Gong cha has built a distinctive and globally recognised brand with a loyal customer base and franchisee economics that are among the strongest in the sector,” said Naofumi Nishi, a partner at Bain Capital.

Growing demand for specialty beverages and boba gives Gong cha room to expand, while Bain brings the financial and operational support to help move that growth forward.