Bain Capital has agreed to acquire the global bubble tea chain Gong cha from TA Associates and other investors, marking a significant consolidation move in the rapidly expanding beverage sector.
The transaction values the brand at an undisclosed amount and is expected to close in the fourth quarter of 2026.
The deal comes as Gong cha’s primary competitor, MBK Entertainment, grapples with intensifying regulatory pressure in its home market of South Korea.
Bain Capital’s acquisition positions the firm to capitalize on potential market share shifts as MBK navigates compliance challenges that could constrain its operational flexibility and growth trajectory.
This move underscores Bain Capital’s continued appetite for consumer-facing brands with strong global footprints.
By taking control of Gong cha, the private equity giant aims to leverage the brand’s established presence in key international markets, potentially accelerating expansion efforts that may have been slower under previous ownership.
The acquisition highlights the broader trend of private equity firms targeting high-growth consumer sectors, particularly those with scalable franchise models.