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Tavern Owner Adds Silent Equity Partner

State College - 1482378_45201
Centre County Gazette

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As so many things around here have changed over the past 72 years, The Tavern Restaurant has remained a cozy, historic place to gather in State College. Owner Pat Daugherty said The Tavern provides a “kind of family atmosphere” for generations of students, residents and alumni who have worked and dined there through the years, and he plans to keep it that way.

In order to make The Tavern even stronger, Daugherty said he has taken on a silent, equity partner.

According to information recorded in January with the Centre County recorder of deeds, Daugherty sold property at 218 E. College Ave. to Carric Land Co. for $2 million.

Daugherty, who will continue running the restaurant, said the silent partner is a former standout server who worked for the restaurant while he was attending Penn State.

Over the course of 72 years, “we have grown in space, our menu has evolved and we still employ students as part-time servers, and we still remain a beloved gathering place in our community,” Daugherty said.

“As we look forward to celebrating our 75th anniversary and beyond, I have taken on a silent, equity partner. Together, this will allow us to make improvements in all aspects of the restaurant.

John “Jace” O’Connor and Ralph Yeager, two World War II veterans studying at Penn State on the GI Bill, opened The Tavern in 1948. Daugherty and Bill Tucker purchased the restaurant in 1980. Daugherty had since been the sole owner of the restaurant and building, which also includes several apartments.

‘I am as excited now as I was in 1980 when Bill Tucker and I became the second owners of this special place,’ Daugherty said. ‘It gives me great joy that the Tavern Restaurant’s future is bright.

“And I will still be here working, leading this charge and enjoying the best job I’ve ever had, joining with my friends and neighbors in the restaurant and lodging community as, together, we work in State College’s hospitality industry.”

The restaurant recently replaced the floors in the Adam’s Apple bar area and made improvements to the kitchen. Daugherty said he hopes to continue the improvements with an updated menu that will highlight more information about the dishes The Tavern serves.

Ruth and Pat Daugherty with the Nittany Lion.