Bain Capital to acquire bubble tea chain Gong Cha in deal that may fetch up to US$2 billion

Published Aug 6, 02:52 AM UTC

US private equity firm Bain Capital has agreed to acquire bubble tea chain Gong Cha, according to a report from The Business Times Singapore. The sale may fetch up to US$2 billion, though Bain did not disclose the exact value. The transaction is expected to close in the fourth quarter of 2026. The acquisition is part of Bain Capital's broader push into the food and beverage investment sector. Gong Cha is a global bubble tea brand with significant presence in Asia and other markets. The deal highlights continued private equity interest in the fast-growing beverage franchise industry.