Global tea chain Gong cha has been acquired by private investment firm Bain Capital from TA Associates and the company’s other shareholders. According to Gong cha’s financial statements, group revenue stood at US$188.8 million in 2024, with operating profit reported as US$23.7 million. It’s acquisition of Gong cha is the latest in a line of sales of the brand, which was officially established in Taiwan in 2006. “We are grateful to TA for its partnership and shared commitment to Gong cha’s long-term success,” says Global CEO of Gong Cha Paul Reynish. “TA’s investment has been instrumental in supporting our global expansion and the continued development of our business model.