American Express: agreement with TripAdvisor to acquire TheFork for $700 million

TheFork, the online restaurant booking platform, is moving from TripAdvisor to American Express. In a statement, TripAdvisor announced that it has reached an option agreement to sell the business to American Express for $700 million in cash. In February, TripAdvisor had stated its intention to evaluate strategic alternatives for TheFork, a platform used in 11 European countries that connects millions of users with over 50,000 restaurants.

The proposed acquisition – according to a statement from American Express – forms part of the group’s broader strategy in the restaurant sector and follows the successful acquisitions of Resy and Tock: taken together, these platforms are expected to enable American Express to expand its network to around 75,000 bookable restaurants. The parties expect the transaction to be completed by 2026.