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Bain Capital is buying Gong cha from TA ***** ociates, a private equity firm that purchased the bubble tea chain in 2019, according to a Wednesday press release.
The terms of the transaction were not disclosed, but the deal is expected to close in the fourth quarter.
Gong cha has about 2,200 locations worldwide, including roughly 240 in the U.S. as of March. The chain recently acquired 170 stores from its U.S. master franchisee to strengthen its American operations.
Last month, Gong cha signed its largest direct franchising deal ever — a 50-store agreement in Texas — as part of its push to eventually reach 1,000 U.S. units.
#restaurant #daily #chain #wednesday
Bain Capital is buying Gong cha from TA ***** ociates, a private equity firm that purchased the bubble tea chain in 2019, according to a Wednesday press release.
The terms of the transaction were not disclosed, but the deal is expected to close in the fourth quarter.
Gong cha has about 2,200 locations worldwide, including roughly 240 in the U.S. as of March. The chain recently acquired 170 stores from its U.S. master franchisee to strengthen its American operations.
Last month, Gong cha signed its largest direct franchising deal ever — a 50-store agreement in Texas — as part of its push to eventually reach 1,000 U.S. units.
#restaurant #daily #chain #wednesday
1 month ago
