In 2006, Blake Mycoskie created TOMS, a company that would match every pair of shows purchased with a pair of shoes given to a child in need. Since then, TOMS shoes has become a highly profitable and socially-conscious foot, apparel and accessories business built around One for One® promise to help a person in need for every purchase. In addition, TOMS Eyewear gives sight to a person in need with every pair of eyewear purchased, and TOMS Roasting Co. gives one week of clean water to a person in need for every bag of coffee purchased.
Having known Blake Mycoskie since the early days of founding TOMS, The Sage Group advised the Company in its sale to Bain Capital, having managed a targeted and competitive M&A process that entailed extensive interest from the most prominent strategic buyers and investment funds internationally. Bain Capital agreed to purchase 50% of TOMS with Blake Mycoskie continuing as visionary of the Company. Together, TOMS and Bain will continue the tradition of matching investments that give back to the community through a new charitable endeavor.
Working with the Sage team was one of the highlights of my entrepreneurial life. I had never sold a company before and having their guidance and expertise made it not only successful, but a lot of fun. You spend a LOT of time with the people who represent you so you better like them and trust them. If I ever do it again, Sage would be my first call again.– Blake Mycoskie, Founder & Chief Shoegiver