Bain Capital to acquire Taiwan-originated Gong Cha chain for over $635m

Key facts

• Bain Capital is acquiring the Gong Cha bubble tea chain.
• Gong Cha originated in Taiwan.
• The seller is TA Associates.
• The acquisition price is over $635 million.
• The deal is expected to value Gong Cha at up to $2 billion.
• The valuation is nearly 30 times annual earnings.
• JPMorgan is managing the deal.

Bain Capital is poised to acquire the Taiwan-originated bubble tea chain, Gong Cha, from its current owner, TA Associates. The transaction is valued at over $635 million. JPMorgan is managing the deal, which is anticipated to place Gong Cha's valuation at approximately $2 billion. This valuation represents nearly 30 times the company's annual earnings, indicating a substantial premium. The acquisition signifies a major move in the global food and beverage sector, highlighting the growing market for specialty beverages.