Minnesota’s Bremer Financial Reportedly Seeks a Buyer

Deal flow cooled sharply in July as macroeconomic uncertainty and a sluggish private equity exit environment continued to weigh on transactions, though year-to-date activity remains ahead of 2025.

The deal gives Hearst full ownership of the company, which had operated as a 50-50 joint venture between the two media companies.

Founded in Taiwan, Gong cha is a specialty tea franchisor, operating nearly 2,200 stores across 33 international markets.