Bain Capital has agreed to acquire Gong cha, a global tea brand known for its milk tea, fruit tea, and other cold beverages, from TA Associates. Gong cha, founded in 2006 and headquartered in London, boasts nearly 2,200 stores across 33 international markets, serving over 150 million beverages annually.

Bain Capital highlighted Gong cha's distinctive brand, loyal customer base, and strong franchisee economics, seeing significant growth potential, particularly in Asia Pacific and the Americas. The acquisition aims to support the next phase of Gong cha's expansion and operational development.

TA Associates invested in Gong cha in 2019, assisting with its global expansion and strategic acquisitions, including US master franchisee rights. The transaction is anticipated to conclude in the fourth quarter of 2026, pending standard closing conditions.