American Express to Buy Tripadvisor’s TheFork for $700M

• TheFork generated $232 million in revenue for the year ended March 31, representing a 25% year-over-year increase
• The platform connects millions of diners with over 50,000 restaurants across 11 European countries, complementing AmEx's previous acquisitions of Resy and Tock
• Activist investor Starboard Value had pushed Tripadvisor to sell assets as the company struggled with pandemic recovery and competition from Booking Holdings and Airbnb

American Express Acquires TheFork from Tripadvisor for $700 Million

American Express announced Monday it will purchase TheFork, a restaurant booking platform, from Tripadvisor in an all-cash transaction valued at $700 million. The deal is expected to close before the end of 2026.

Key Transaction Details:

• Purchase price: $700 million, all cash
• TheFork generated $232 million in revenue for the year ended March 31, representing 25% year-over-year growth
• The platform will continue operating under existing leadership post-acquisition

Strategic Rationale:

For American Express, the acquisition expands its dining network to 75,000 bookable venues globally and strengthens its international business segment, which has been the company's fastest-growing division. The deal builds on AmEx's previous acquisitions of dining platforms Resy and Tock. "Dining is one of the most important ways people engage with our brand," said Rafa Marquez, president of international card services at American Express.

TheFork's Operations:

The platform provides restaurant management, booking, and customer engagement services, connecting millions of diners with over 50,000 restaurants across 11 European countries.

Tripadvisor Context:

Activist investor Starboard Value had pressured Tripadvisor to sell TheFork in October, as the company struggled with pandemic recovery and intense competition from rivals including Booking Holdings and Airbnb.

Market Impact:

Tripadvisor shares surged following the announcement, reflecting investor approval of the asset sale. Goldman Sachs served as financial adviser to Tripadvisor and TheFork on the transaction.