Toms Positions for Sales Growth

Toms (Los Angeles), the company that donates a pair of shoes to a needy child for every pair it sells, has agreed to sell half of itself to private-equity firm Bain Capital LLC to fund an expansion of its operations in the U.S. and overseas, according to Bloomberg.

Blake Mycoskie, who founded Toms, will retain a 50 percent stake. “This partnership will enable Toms to grow faster and give to more people in more ways than we could otherwise,” Mycoskie said in a statement.

Bain’s investment will help Toms expand its distribution in Europe and Asia as well as in the U.S., which includes increasing the chain’s retail stores from the current two locations in Venice, Calif. and Austin, Texas, Bloomberg reported.