Gong Cha's planned $2.5 billion sale draws private equity interest, sources say
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Gong Cha, the bubble tea chain, is reportedly seeking a sale valued at up to $2 billion, attracting interest from private equity firms Bain Capital and General Atlantic. TA Associates, the current owner, has engaged JPMorgan to manage the sale process, with binding bids expected by mid-June. Gong Cha, founded in Taiwan in 2006, operates nearly 2,200 locations globally and reported a 14% revenue increase to $217 million last year. The company has expanded into new markets and made strategic acquisitions in the U.S.
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