TOMS, an iconic example of the one-for-one sustainable business model, has sold half of its ownership stake to Bain Capital, a Boston-based investment firm. The other half of the company will continue to be owned by Blake Mycoskie, the company’s founder.

While the news may make sustainable business advocates wince, the funding will allow TOMS to grow faster and thus benefit even more people globally. There is no indication that Bains will alter the company’s mission and the business will continue with its charitable initiatives, including the distribution of free, quality shoes in developing countries.

TOMS has pledged to expand its distribution in Europe, Asia and the US. "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. TOMs is also expected to expand its product lines in areas like apparel and household items.

TOMS’ eyewear division has reportedly saved or restored the sight of more than 250,000 people, and the Los Angeles based company has given away more than 25m pairs of new shoes since its founding in 2006. Mycoskie has said that he will give away at least half of his profit from the sale and that half of that money will go toward starting a fund to support social entrepreneurship.

The buy-out is reminiscent of Unilever’s purchase of Ben & Jerry’s in 2001. The deal received much criticism, but in the long run the quirky ice cream outfit has maintained its integrity and grown its business.