01 -
Melt 2 tablespoons unsalted butter and 2 tablespoons olive oil in a large heavy skillet over medium heat. Add sliced onions, stirring to coat evenly. Cover and cook for 5 minutes until onions begin to soften.
02 -
Uncover the skillet, add sugar, salt, and black pepper. Stir thoroughly, re-cover, reduce heat to medium-low, and cook in 5-minute intervals, stirring each time, until onions reach a deep golden brown, about 20 minutes.
03 -
Add beef broth, sherry, or water to the skillet, scraping up browned bits with a wooden spoon. Cook for 1 minute, stir in chopped thyme, then remove from heat. Transfer onions to a heatproof bowl and carefully wipe out the skillet.
04 -
Melt remaining butter and olive oil in the skillet over medium-low heat. Arrange four slices of bread in the skillet and cook until lightly toasted, approximately 2 minutes.
05 -
Flip the bread slices. Evenly distribute shredded Gruyère and cheddar over each slice. Cover the skillet and cook until bread is golden and cheese is thoroughly melted, about 2-3 minutes.
06 -
Transfer bread to a chopping board. Spread caramelized onions over two slices, then top with the remaining slices, pressing gently to compact.
07 -
Allow sandwiches to cool for 1-2 minutes before slicing in half. Serve immediately while hot and cheese is gooey.