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Toms Sells 50% Stake to Bain Capital to Fund Sales Growth

Toms, the company that donates a pair of shoes to a needy child for every pair it sells, 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.

The investment values the closely held shoemaker at about $625 million, including debt, according to a person familiar with the situation, who asked not to be named because financial terms of the deal weren’t publicly disclosed. Blake Mycoskie, who founded Toms, will retain a 50 percent stake, the companies said in a statement yesterday.