Sports-restaurant concept Tom’s Watch Bar in new funding; expanding nationwide
A brand known for its “360-degree” viewing room is targeting “ultra-high” traffic locations as it expands nationwide.
Denver-based Tom’s Watch Bar has concluded a $30 million fundraising and partnership with Sagard Credit Partners. Tom’s, owned by SIF Partners which provided the initial equity capital, said it will use the capital to open locations across the country.
The company currently has five locations and eight new ones in construction. It also is negotiating 10 LOIs for new venues for the second half of 2023.
With a tag line of “All the Sports, All the Time,” Tom’s Watch Bar features a central oversized "stadium" screen that is surrounded by hundreds of high-definition screens, providing 360-degree viewing and making every seat “the best seat in the house,” the company said. Customers have the option to enjoy premium sound or personalize their sound and listen to the play-by-play for their favorite game. Tom's also offers games, contests and prizes during the games.
In addition to the 360-degree indoor viewing room, Tom’s Watch Bar locations have indoor/outdoor bars, expansive patios with screens and virtual Top Golf suite suites where customers can play over 10 different sports with their party. Tom's menu features high-quality versions of traditional sports bar fare coupled with contemporary options.
The company will open its next location in mid-October, in downtown Minneapolis, one block from the Target Center. The center is home of the Minnesota Timberwolves and Minnesota Lynx and two blocks from Target Field, home of the Minnesota Twins and on the Minneapolis skyway system.
Tom’s Watch Bar was co-founded by Tom Ryan, co-founder of burger chain Smashburger. It started out, in 2012, as a full-service restaurant called Tom’s Urban and was relaunched as a next-generation sports bar under its current banner in 2019.
"Tom's Watch Bar is excited for the opportunity to partner with Sagard Credit Partners for the continued growth of our innovative sports bar concept, with the goal of making every seat the best seat in the house,” said Ryan.
Family-owned investment firm Stephens Inc. served as exclusive financial advisor to Tom's Watch Bar in the transaction.