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Bain Capital has acquired Gong cha’s master franchise operations across the Northeast, Southeast, Texas, and Oklahoma in the United States. The transaction, completed for an undisclosed amount, transfers ownership of Gong Cha Franchise, LLC, the largest Americas master franchisee, to the global investment firm. The acquired entity manages store development and franchising across 13 states, including New York, Texas, Georgia, and Florida.
Gong cha is an international beverage franchise known for freshly prepared premium tea, bubble tea, and coffee. The brand operates more than 2,000 stores across 23 countries, with a business model built on franchise expansion and standardized product quality. Bain Capital’s purchase covers the U.S. territories where Gong Cha Franchise, LLC currently holds development rights, effectively consolidating a significant portion of the brand’s North American footprint under new ownership.
The acquisition gives Bain Capital direct control over a fast-growing segment of the specialty tea market in the United States. For Gong cha, the deal provides access to Bain Capital’s operational expertise and capital resources, which could accelerate store openings and supply chain improvements across the covered states. The transaction also separates the U.S. master franchise from other international operations, allowing for more focused regional management.
Bain Capital’s entry into the bubble tea sector reflects broader investor interest in beverage concepts with repeat customer demand and scalable franchise models. The firm is expected to prioritize unit growth in existing territories, particularly in high-density markets along the East Coast and in Texas, while maintaining the brand’s product standards. No changes to store operations or franchise agreements have been announced.
The combined entity will operate under Bain Capital’s ownership, with Gong cha’s existing management team likely retained to oversee day-to-day activities. The new structure positions the brand to compete more aggressively against other tea and coffee chains in the U.S., with potential for expanded marketing and real estate development. Further announcements regarding leadership or growth targets are anticipated in the coming months.