Key facts
- American Express is acquiring TheFork from Tripadvisor for $700 million in an all-cash deal.
- The acquisition aims to expand American Express's dining network to 75,000 bookable venues.
- TheFork generated $232 million in revenue for the year ended March 31.
- The deal is expected to close before the end of 2026.
- Tripadvisor shares increased 14% in premarket trading.
American Express has agreed to acquire Tripadvisor's restaurant booking platform, TheFork, for $700 million in an all-cash transaction. This move is expected to significantly expand American Express's dining network, adding 75,000 bookable venues and strengthening its international business segment.
The acquisition builds upon American Express's previous purchases of dining platforms Resy and Tock. Rafa Marquez, president of international card services at American Express, stated that dining is a crucial way people engage with the brand.
TheFork reported $232 million in revenue for the year ended March 31, marking a 25% increase from the previous year. The platform connects millions of diners with over 50,000 restaurants across 11 European countries.
Tripadvisor shares surged 14% in premarket trading following the announcement. Activist investor Starboard Value had previously advocated for the sale of TheFork as Tripadvisor navigated post-pandemic recovery and intense competition. The deal is anticipated to close before the end of 2026, with TheFork continuing to operate under its current leadership. Goldman Sachs advised Tripadvisor and TheFork on the transaction.