Bain Capital to buy bubble tea chain Gong Cha for over $635M

What's the deal? Bain CapitalDealroom has a profile for this one. Try Dealroom → has agreed to acquire Gong ChaDealroom has a profile for this one. Try Dealroom →, the Taiwan-originated bubble tea chain, Nikkei reported on Tuesday. The US investment firm plans to buy the shares from private equity company TA AssociatesDealroom has a profile for this one. Try Dealroom → and others for over $635 million.

What's the endgame? The acquisition hands Bain Capital control of one of Asia's best-known tea franchises, whose menu of bubble tea drinks has expanded across markets in recent years.

The signal: The deal marks the latest handover of a fast-growing beverage brand between global private equity firms, with TA Associates cashing out and Bain betting on continued appetite for bubble tea.

Read more: Nikkei Asia

Image credit: Mr.TinDC