Bain Capital to Acquire Gong cha, one of the world’s fastest-growing tea brands, from TA Associates
TOKYO – [August 5, 2026] – Bain Capital, a leading global private investment firm, today announced that it has agreed to acquire Gong cha Global (“the Company”), one of the world’s fastest-growing tea brands, from TA Associates (“TA”) and the company’s other shareholders.
Gong cha, which is known around the world of its high quality, freshly brewed whole leaf tea made with premium ingredients, operates nearly 2,200 stores across 33 markets, with leading positions in key markets across Asia Pacific including Japan, Korea and Australia, alongside a growing presence across the Americas and Europe.
The Company deploys a capital-light franchise model, underpinned by its Gong cha 2.0 “Digital Kitchen” – its flexible store blueprint centered around its innovative drinks dispensing technology, and serves more than 150 million beverages annually to customers.
Bain Capital will work closely with Gong cha’s highly experienced management team to support the company’s next phase of growth while keeping operational excellence, and customer experience that have underpinned the brand's success.
This will focus on continuing the Company’s disciplined store expansion programme in Japan and Korea, where the brand has built a highly loyal customer base and established strong brand recognition, while accelerating its growth in the United States, where Gong cha’s direct franchising model and contracted pipeline provide a multi-year runway for unit growth. Alongside this, the Company will focus on deepening customer engagement through product innovation, digital marketing, and loyalty initiatives.
Bain Capital brings extensive experience in the global consumer, retail, and restaurant sectors to the partnership, including investments in Domino’s Pizza Japan, Skylark, York Holdings, Fogo de Chão, Sizzling Platter, Gail’s and Retail Zoo. The firm’s hands-on operational approach has supported franchise businesses across store development, franchisee recruitment, marketing, and supply chain efficiency.
“Gong cha has built a distinctive and globally recognised brand with a loyal customer base and franchisee economics that are among the strongest in the sector. The management team’s disciplined approach to store expansion has created a strong platform with significant room to grow across Asia Pacific, including in Japan, and the Americas. We look forward to partnering with the team to support the next phase of the Group’s growth and continuing to develop its operations and marketing, which has been fundamental to its success to date,” said Naofumi Nishi, a Partner at Bain Capital.
“We are grateful to TA for its partnership and shared commitment to Gong cha’s long-term success” said Paul Reynish, Global CEO of Gong cha. “TA’s investment has been instrumental in supporting our global expansion and the continued development of our business model. As we begin this next chapter with Bain Capital, we look forward to building on this momentum and bringing more high-quality whole leaf tea to consumers around the world.”
“Gong cha is an excellent business with a talented leadership team and strong foundation for continued growth. We’re proud of what the team has accomplished and look forward to watching the Company’s next chapter unfold,” said Edward Sippel, Managing Director at TA.
The financial terms of the transaction were not disclosed. The transaction is expected to close in the fourth quarter of 2026, subject to customary closing conditions. Nomura Security acted as Financial Advisor to Bain Capital. J.P. Morgan and NorthPoint acted as Financial Advisors to Gong cha.
ENDS
About Bain Capital
Founded in 1984, Bain Capital is one of the world’s leading private investment firms. We are committed to creating lasting impact for our investors, portfolio companies, and the communities in which we live. As a private partnership, we lead with conviction and a culture of collaboration, advantages that enable us to innovate investment approaches, unlock opportunities, and create exceptional outcomes. Our global platform invests across five focus areas: Private Equity, Growth & Venture, Capital Solutions, Credit & Capital Markets, and Real Assets. We have 24 offices on four continents, more than 2,000 employees, and approximately $225 billion in assets under management. To learn more, visit www.baincapital.com. Follow @BainCapital on LinkedIn and X (Twitter).
About Gong cha
Founded in Taiwan in 2006 and now headquartered in the United Kingdom, Gong cha is one of the world’s fastest-growing tea brands.
Based on skills and expertise honed over more than two decades, Gong cha is at the cutting edge of the global tea market, serving up high-quality, freshly brewed, hand-crafted beverages made with premium ingredients at nearly 2,200 locations in 33 markets.
Product innovation and provenance is central to the Gong cha brand. Only ever using the very best whole leaf tea, Gong cha offers hundreds of beverage combinations which meet a variety of consumer tastes, all at great value.
The Group is currently executing an ambitious global expansion strategy that will see the brand both launch into new markets for the first time and expand its footprint in existing markets.
For further information, please visit www.gong-cha.co.uk
About TA
TA is a leading global private equity firm focused on scaling growth in profitable companies. Since 1968, TA has invested in more than 560 companies across its core sectors, including technology, business services, financial services, and healthcare. Leveraging its deep industry expertise and strategic resources, TA collaborates with management teams worldwide to help high-quality companies deliver lasting value. The firm has raised $65 billion in capital to date and has more than 160 investment professionals across offices in Boston, Menlo Park, Austin, London, Mumbai, and Hong Kong. Learn more at www.ta.com.
Media Contact
Bain Capital
Japan Communications | JapanPress@baincapital.com
Gong cha via Hudson Sandler (UK media)
Andy Richards | arichards@hudsonsandler.com / +447776135461
