VIG Partners Acquires 85% Stake in Teazen Inc

Bain Capital to Acquire Gong cha From TA Associates

August 14, 2026

Consumer Products

Bain Capital Private Equity has entered into an agreement to acquire Gong cha, the global tea brand currently backed by TA Associates. The deal is expected to close in the fourth quarter of 2026, subject to customary closing conditions.

Sajo Group (via Oyang and Sajo CPK) Acquires Foodist from VIG Partners

June 28, 2024

Food & Beverage

South Korea’s Sajo Group, through subsidiaries Oyang Corporation and Sajo CPK, acquired a 99.86% stake in Foodist from private equity firm VIG Partners for KRW 252 billion (about USD 181 million). Foodist reported KRW 1.03 trillion in revenue for the year ended Dec 31, 2023; the sale gives VIG Partners roughly a 2x return and strengthens Sajo's position in food materials distribution and catering.

SBJ Capital Acquires Rishi Tea & Botanicals

February 17, 2023

Food & Beverage

SBJ Capital completed an acquisition investment in Rishi Tea & Botanicals to accelerate the specialty tea brand’s growth and expand its channels and product capabilities. Graycliff Partners provided a unitranche debt facility and made a minority equity investment in support of the transaction; Rishi’s existing management team, including founder and CEO Josh Kaiser, remains in place.

Investcorp Acquires Majority Stake in Viz Branz

November 16, 2020

Food & Beverage

Investcorp has entered into a definitive agreement to acquire a majority ownership position in Viz Branz Holdings Pte Ltd, a Singapore-headquartered manufacturer and distributor of instant cereal and beverage brands. The transaction was completed in partnership with CR Capital (the private investment arm of China Resources Group) and Fung Strategic Holdings; founder and CEO Mr. Ben Chng will retain a significant ownership stake. Viz Branz operates manufacturing facilities in China and Myanmar, employs approximately 1,300 people and generated about SGD 170 million in sales for the year to 30 June 2020.

Urban Tea Acquires 80% of Guokui Management (Crop Circle NYC)

September 23, 2020

Restaurants & Hospitality

Urban Tea Inc. entered into a share purchase agreement to acquire 80% of Guokui Management Inc. for $400,000 in cash. The acquisition gives Urban Tea ownership of the CROP CIRCLE trademark and operations in New York City as part of the company's U.S. expansion plans into casual food and beverage.

TA Associates Makes Strategic Growth Investment in Gong cha Group

August 26, 2019

Food & Beverage

TA Associates completed a strategic growth investment in Gong cha Group, the global Taiwanese bubble/milk tea franchisor founded in 2006. Partners Group provided supporting debt and equity financing alongside investments from Gong cha regional founders and management; proceeds will support global expansion and franchise operations.