American Express $AXP agreed to acquire TheFork, Tripadvisor's European restaurant booking platform, for $700 million in an all-cash transaction, the companies said on Monday.
The all-cash deal will expand American Express's dining network to 75,000 bookable venues across Europe
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American Express $AXP agreed to acquire TheFork, Tripadvisor's European restaurant booking platform, for $700 million in an all-cash transaction, the companies said on Monday.
The platform operates in 11 European countries, giving diners access to a network of more than 50,000 restaurants. With the purchase, American Express would bring its total bookable dining venues to 75,000, adding to a portfolio that already includes the Resy and Tock platforms, according to Reuters. Tripadvisor stock rose 7% in morning trading following the announcement.
For Tripadvisor, the sale follows a Feb. 2026 announcement that the company would explore strategic alternatives for TheFork. The transaction allows Tripadvisor to concentrate on its experiences-focused strategy, the company said. Potential uses of the proceeds include share repurchases, debt reduction, or investment in the experiences business.
TheFork generated $232 million in revenue and $28 million in adjusted EBITDA for the twelve months ended March 31, 2026, the company said.
"This agreement reflects two things we believe deeply: The tangible value across Tripadvisor Group's portfolio and our ongoing focus on the opportunity we see ahead in Experiences," Tripadvisor Group CEO Matt Goldberg said in a statement.
American Express Chairman and CEO Stephen Squeri said the deal also opens opportunities to deepen the company's relationship with Tripadvisor. "By building on our shared strengths across dining, travel, and experiences, we have opportunities to create even greater value for customers and partners," Squeri said in a statement.
Rafa Marquez, president of international card services at American Express, said dining was central to how customers engage with the brand.
The current leadership team at TheFork is expected to remain in place once the acquisition is complete. The transaction is expected to close before the end of 2026, subject to labor consultation and regulatory approvals, the company said. Tripadvisor said it expects minimal tax costs from the sale, with net proceeds expected to closely approximate gross proceeds.
Goldman Sachs $GS served as financial advisor to Tripadvisor and TheFork, with Goodwin Procter LLP and Reed Smith LLP serving as legal advisors, the company said.
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