Bain Capital has acquired Gong cha Global, the Taiwan-founded bubble tea chain now headquartered in the United Kingdom, for an undisclosed amount. The private investment firm completed the purchase from TA Associates, which had held a majority stake in the company since 2019. The transaction marks a change in ownership for the beverage retailer, which will continue to operate under its existing brand and management team.
Gong cha, established in 2006, operates more than 2,100 locations across 28 markets, making it one of the larger players in the global tea segment. The company specializes in freshly prepared drinks using premium ingredients, with a menu centered on customizable bubble teas and fruit-based beverages. Its current footprint spans Asia, Europe, North America, and Australia, with a mix of company-owned and franchised outlets.
For Bain Capital, the acquisition fits a broader pattern of investment in consumer brands with international growth potential. The firm has previously backed retail and food-service businesses, and Gong cha’s established supply chain and franchise model offer a platform for expansion. The deal provides Bain with a controlling interest in a brand that has yet to penetrate several large markets, including parts of Latin America and Africa.
The acquisition is expected to accelerate Gong cha’s store-opening pipeline and strengthen its digital ordering capabilities. Bain Capital’s operational resources could also support menu innovation and regional supply-chain efficiencies, helping the chain compete with rivals such as Chatime and Kung Fu Tea. No changes to Gong cha’s day-to-day leadership were announced as part of the deal.
With new ownership in place, Gong cha is positioned to pursue a more aggressive international rollout while maintaining its premium positioning. The company’s ability to scale in untapped regions will likely determine whether the acquisition delivers the long-term returns Bain Capital anticipates.