Private equity firms eye 2 billion dollar Gong Cha sale
Bubble tea chain Gong Cha has drawn interest from Bain Capital and General Atlantic for a 2 billion dollar sale. TA Associates expects bids by mid-June.
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Insights:
Xurve View
TA Associates is seeking up to $2 billion for bubble tea chain Gong Cha, drawing interest from Bain Capital and General Atlantic. The sale price implies a multiple of nearly 30 times the brand's $70 million annual EBITDA. A successful exit would highlight the premium valuations global investors place on high-growth Asian consumer franchises.
