Gong Cha secures private-equity investment to boost global expansion
Tuesday, August 27, 2019
(InsideRetail by Robert Stockdill) -International private equity company TA Associates will take an undisclosed stake in fast-growing bubble-tea chain Gong Cha.
The investment is being made through TA Associates’ Hong Kong office, with settlement expected in early October. The value of the investment has not been revealed.
Gong Cha’s South Korean operator will also participate in the capital raising.
Gong Cha has more than 1000 stores in 17 markets, including Singapore, South Korea, Japan, Taiwan, the Philippines, Malaysia, Mexico, Australia, Canada, Vietnam, the UK and the US. The company was founded in 2006 in Kaohsiung, southern Taiwan.
Edward Sippel, an MD at TA Associates and co-head of Asia operations of TA Associates Asia Pacific, said his company’s involvement in the brand will help grow the Gong Cha brand in new and existing markets.
