(March 6): TA Associates is considering selling bubble tea maker Gong Cha, according to people with knowledge of the matter.
TA is working with JPMorgan Chase & Co on the potential deal, the people said, asking not to be identified because the information is private. A transaction might value Gong Cha at about US$2 billion, the people said.
Deliberations are at an early stage and no final decision has been made, the people said.
TA didn’t respond to requests for comment. JPM declined to comment.
TA specialises in five target industries — technology, financial services, healthcare, consumer and business services, according to its website. The private equity firm invested in Gong Cha in 2019. Gong Cha was founded in Taiwan and now has more than 2,000 outlets in 23 countries, offering various types of teas and smoothies, its website shows.
Uploaded by Felyx Teoh
