SANTA MONICA, CA—Will Toms Shoes be the next big retailer? And will the world be a better place as a result?

Bain Capital LLC has acquired a 50 percent stake in the footwear company, with plans to grow both the business and its charitable giving, says Reuters.

The company was created in 2006 when Founder and Chief Shoe Giver (yes, that's his title) Blake Mycoskie traveled to Argentina and met children who literally had no shoes at all. The company matches every pair of shoes sold with a pair given to a child in need. (In 2011, this was extended to eyewear.) To date, according to Toms' website, the company has donated 10 million pairs of shoes in over 60 countries, and some 150,000 pairs of eyeglasses. Toms also sells fair-trade organic coffee, donating a week of clean water to a person in need with each bag sold.

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