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River Horse Brewing Company Plans Expansion Backed By Philadelphia-Based Private Investors

Posted on: Tuesday, 14 August 2007, 12:21 CDT

River Horse Brewing Company, producers of award-winning, handcrafted premium ale and lager microbrews, today announced that it has entered into an agreement with a Philadelphia-based private investment group led by Glenn Bernabeo and Chris Walsh, both former Directors and Partners at SSG Capital Advisors, L.P. with 10+ years of capital markets experience each including mergers and acquisitions. Under terms of the agreement, Bernabeo and Walsh will assume control of the company and expand operations. River Horse founders, Tim and Jim Bryan, will remain with the company and continue to play key roles in the development of new products and quality control.

"This agreement is all about expansion," says Bernabeo. "We have been watching the brewing sector closely for some time now and the landscape has fundamentally changed. Consumer tastes and preferences are rapidly shifting toward premium beer products much like they have in the wine and spirits market several years ago. The timing couldn't be better for us to get involved and help take River Horse to the next level."

Microbrews currently represent one of the fastest growing segments of the wine and spirits industry. According to the National Brewers Association, U.S. microbrew sales increased by an impressive 17% in 2006. By comparison, U.S. beer sales grew by only 2.1%.

"There's an extreme movement happening in craft brewing right now," says Walsh. "American beer palates have evolved. Consumers are becoming more educated and more discerning. People want to be exposed to as many of the different styles and flavors of beer as possible. Brewers are creating unique beers by introducing new ingredients such as exotic hops, fruit and herbs in order to meet today's more sophisticated tastes. These new flavors are creating a wide range of new beer-food pairings that go way beyond pizza and burgers. Our goal is to establish for River Horse a leadership position as a premium product within the craft brewing market."

The River Horse agreement with Bernabeo and Walsh is subject to regulatory approvals from the State of New Jersey. Both parties anticipate that the agreement will be finalized by fall 2007.

Tim Bryan commented on the agreement, saying: "This is a great positive step forward for River Horse that helps to safeguard our future and realize our full potential. Glenn and Chris have a strong track record for building strong and successful companies, so we couldn't be happier to have them join us in our ongoing quest to produce the perfect glass of beer."

About River Horse Brewing Company

The River Horse Brewing Company produces an award-winning collection of handcrafted premium ale and lager microbrews using all-natural ingredients. Housed in a former cracker factory nestled along the banks of the Delaware River in Lambertville, NJ, the company was founded in 1996 by three brothers from nearby Bucks County, PA -- Jim, John and Tim Bryan -- and quickly grew into one of the better-known microbreweries in the Delaware Valley. River Horse beer is available through a network of distributors in nine states -- New Jersey, Pennsylvania, New York, Delaware, Maryland, Connecticut, Ohio, Virginia and Massachusetts. Please join the River Horse Team at their Octoberfest Event, October 6th and 7th at 80 Lambert Lane Lambertville, NJ.

For more information on the River Horse Brewing Company, please visit www.riverhorse.com.

This release contains "forward-looking statements" as defined under the Federal Securities Laws. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including but not limited to: (i) adverse changes in general economic or market conditions; (ii) delays or reductions in consumer spending on beer; (iii) risks associated with acquisitions and investments, including the challenges and costs of integration, restructuring and achieving anticipated synergies; (iv) competitive factors, including but not limited to pricing pressures and new product introductions; (v) the relative and varying rates of product price and component cost declines and the volume and mixture of product and services revenues; (vi) component and product quality and availability; (vii) the transition to new products, the uncertainty of customer acceptance of new product offerings and rapid market change; (viii) insufficient, excess or obsolete inventory; (ix) war or acts of terrorism; (x) the ability to attract and retain highly qualified employees; (xi) fluctuating currency exchange rates; and (xii) other one-time events and other important factors. RHB Acquisitions, LLC disclaims any obligation to update any such forward-looking statements after the date of this release.

Source: Business Wire

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