Consilium, an Italian private equity firm, has acquired a majority stake in the River Group through its Consilium Private Equity Fund III fund. The financial terms of the transaction have not been disclosed. Founded in 2000 in Fucecchio, near Florence, River Group is a designer and producer of sneakers for luxury brands. In 2017, the group reported consolidated revenues of around €33 million. River Group's founders - Marco Carli, Paolo Carli and Luca Pengo - will retain a significant minority stake and continue to manage the company. Prior to this deal, Consolium acquired majority stakes in De Fonseca and Macron, in 2011 and 2012, respectively, while in 2015, the private equity firm acquired a majority stake in Navigare, an Italian sportswear brand.

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