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2 clusters · 3 sources · 20 days · First seen · Last updated

Bain Capital acquisition of Gong Cha

Overview

American private equity firm Bain Capital has confirmed an agreement to acquire the Taiwanese bubble tea chain Gong Cha from TA Associates and other shareholders for more than US$635 million. The deal is expected to close by the end of the year.

Following the acquisition, Partners Group is exiting its private credit and minority equity investments in the company. Partners Group had previously served as the sole lender for TA Associates’ 2019 acquisition of Gong Cha, providing a financing package exceeding $200 million.

Since the 2019 investment, Gong Cha has expanded from approximately 1,000 to nearly 2,200 locations across 33 markets. The company has also implemented a ‘Digital Kitchen’ model using automated dispensing technology and acquired master franchise rights for 170 stores in the United States.

Entities

Bain Capital · Gong Cha · TA Associates · Partners Group · Paul Reynish

Timeline

  1. 25 days ago

    [BUSINESS] 3 sources
    Partners Group exits investment in bubble tea chain Gong cha

    Partners Group is exiting its debt and equity positions in bubble tea chain Gong cha following its acquisition by Bain Capital from TA Associates.

  2. about 1 month ago

    [BUSINESS] 9 sources
    Bain Capital to Buy Taiwan’s Gong Cha Bubble Tea Chain for $635 M

    Bain Capital will buy Taiwan’s Gong Cha bubble‑tea chain for over $635 M, aiming to boost expansion in Japan, South Korea and the US after a 6% revenue rise in 2024.

Sources

finews.com · privateequitywire.co.uk · restaurantandcafe.co.nz