TA Portfolio Company Gong cha to Be Acquired by Bain Capital
TA Associates agreed to sell global tea brand Gong cha, which grew to nearly 2,200 stores across 33 markets under its ownership, to Bain Capital Private Equity.
BOSTON, Aug. 5, 2026. TA Associates ("TA"), a leading global private equity firm, today announced that Bain Capital Private Equity, LP ("Bain Capital") has entered into an agreement to acquire Gong cha, one of the world's fastest-growing global tea brands.
Since TA's investment in 2019, Gong cha has strengthened its position as a global category leader, known around the world for its high-quality, freshly brewed whole leaf tea. Throughout the partnership, TA supported Gong cha through multiple value creation initiatives, including its global expansion strategy, completion of strategic M&A, such as the recent acquisition of its US East and West Coast master franchisee rights, and the roll-out of Gong cha's 2.0 "Digital Kitchen", its flexible store blueprint centered around its innovative drinks dispensing technology, which is now live in 250 stores. Today, Gong cha operates nearly 2,200 stores in 33 international markets, serving more than 150 million beverages annually to customers worldwide.
Edward Sippel, Managing Director at TA Associates, said: "Gong cha has built a highly differentiated brand, supported by a great team and strong global franchisee network with distinctive whole leaf tea beverages."
Paul Reynish, Global CEO of Gong cha, said: "TA's investment has been instrumental in supporting our global expansion and continued business model development."
Naofumi Nishi, Partner at Bain Capital, said: "The management team's disciplined approach has created a strong platform with significant expansion opportunity across Asia Pacific and the Americas."
The financial terms were not disclosed. Closing is expected in Q4 2026, subject to customary conditions. J.P. Morgan and NorthPoint served as financial advisors to Gong cha. Nomura Securities advised Bain Capital.
About TA Associates
TA is a leading global private equity firm focused on scaling growth in profitable companies since 1968, with 560+ company investments across technology, business services, financial services, and healthcare, $65 billion in capital raised, and 160+ investment professionals across six global offices.
About Gong cha Global
Founded in Taiwan in 2006 and headquartered in the UK, Gong cha is one of the world's fastest-growing tea brands, operating nearly 2,200 locations in 33 markets and specializing in premium whole leaf tea beverages.
About Bain Capital
Founded in 1984, Bain Capital is a global private investment firm with $225 billion in assets under management, 2,000+ employees, and 24 offices across four continents.
SOURCE TA Associates