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Private equity’s latest bet: bubble tea

Bain Capital strikes deal to acquire fast-growing global brand Gong cha
Gong cha has ambitious expansion plans in the United States and globally. (CoStar)
Gong cha has ambitious expansion plans in the United States and globally. (CoStar)
CoStar News
August 5, 2026 | 10:06 P.M.

Bain Capital is acquiring yet another chain, this time striking a deal to buy a global bubble-tea shop operator that wants to expand from roughly 250 U.S. locations to 1,000.

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