cnbc_topnews

Bain Capital to acquire bubble tea chain Gong cha as rival MBK grapples with regulatory pressure at home

📰 source: cnbc_topnews · 💼 business

bain capital agreed on thursday to acquire gong cha, the global bubble tea chain, from u.s. private equity firm ta associates. mbk partners, one of asia's largest private equity firms, was among the bidders but faced mounting regulatory scrutiny in south korea following the collapse of its portfolio company homeplus, once the country's second-largest supermarket chain.

mbk had sought a korean private equity partner for a joint bid, structuring the deal so mbk would take gong cha's japan business while its partner would get south korea operations. homeplus received 200 billion won ($141 million) in emergency funding after seeking court-led rehabilitation as it neared bankruptcy. gong cha operates over 2,200 stores worldwide, including in the u.s. and central america. bain said it will expand in japan and south korea, where the brand has a strong footprint, while accelerating growth in the u.s.

why it matters: bain's win of gong cha shows regulatory troubles at home can cost pe firms deals as mbk's homeplus fallout looms.

source: cnbc_topnews
sentiment: +0.20 · impact: 0.30

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Surprise fall in US jobs last month as slow summer continues

Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one

China is gaining ground in AI. But the U.S. still has a major advantage

US strikes $1.2bn deal to pay German firm to halt offshore wind projects