SC&H Capital Advises DuClaw Brewing Company in Sale to Buyer

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Updated on: March 29, 2024

SC&H Capital, a leading investment bank specializing in M&A advisory for middle-market companies, is pleased to announce that its client, DuClaw Brewing Company (“DuClaw”), has been acquired by River Horse Brewing Company (“River Horse”).

DuClaw has been a fixture in the Maryland craft brewing scene for the past 27 years, previously operating a number of branded brewpubs and a full-scale production facility outside of Baltimore. Perhaps most famous for its chocolate peanut butter porter, Sweet Baby Jesus, DuClaw has released more than 200 unique beers and won more than 60 awards including a medal at the Great American Beer Festival.

DuClaw’s owner, Dave Benfield, engaged SC&H Capital to find a buyer for the company, given its absence of a long-term succession plan, that would allow him to step back from business operations to spend more time with his family.

“Many thanks to Matt LoCascio and his team at SC&H Capital for getting the transaction done,” Benfield stated. “I worked with Matt for seven years leading up to this and, while we explored many options during that time, the deal with River Horse made the most sense for DuClaw.”

River Horse, located in Ewing, New Jersey, presented an attractive option for Benfield to free himself from the rigorous daily brewing schedule to focus on strategy, product development, and sales while being able to spend more time at home. The acquisition will allow both companies to share River Horse’s production facility and distributor network to expand offerings from both brands.

“From the first day that we sat down with Dave to discuss a possible combination, we knew that this would be a wonderful partnership,” said Chris Walsh of River Horse. “Dave is one of the most innovative minds in brewing and is always ahead of the curve in his flavor profile formulations.”

“We have had the pleasure of working with Dave for some time now and are thrilled with the outcome of this transaction,” said Matt LoCascio, principal at SC&H Capital. “As someone who has devoted over half of his life to the industry, this is a great way for Dave to ensure DuClaw will continue its legacy as an innovative and beloved brand. We are excited to see what’s next for both River Horse and DuClaw as part of this acquisition.”

About SC&H Capital

SC&H Capital is an investment banking and advisory firm specializing in mergers and acquisitions (M&A), employee stock ownership plans (ESOP), distressed M&A, and business valuations for middle-market companies nationally. SC&H Capital delivers services across numerous industries including technology, healthcare, manufacturing, business and professional services, and government contracting. We are recognized for delivering relevant market insights and tailored solutions to help owners achieve their true strategic value. To learn more, visit

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