economy
Bain Capital to acquire bubble tea chain Gong cha as rival MBK grapples with regulatory pressure at home
Bain Capital announced it will acquire Gong cha as MBK faces regulatory pressure in South Korea.
TL;DR
- Bain Capital will acquire the global bubble tea chain Gong cha.
- MBK Partners, a rival bidder, faced regulatory scrutiny in South Korea.
- The scrutiny stemmed from the collapse of MBK's portfolio company, Homeplus.
- Gong cha operates over 2,200 stores worldwide.
- Bain plans to expand Gong cha in Japan, South Korea, and the U.S.