American Express Buys TheFork for $700 Million, Expanding Dining Network to 75,000 Venues
Updated
Updated · Reuters · Jun 15
American Express Buys TheFork for $700 Million, Expanding Dining Network to 75,000 Venues
3 articles · Updated · Reuters · Jun 15
Summary
$700 million in cash will buy Tripadvisor's restaurant-booking unit TheFork, a deal expected to close before the end of 2026 and one that sent Tripadvisor shares up 7%.
American Express said the acquisition will lift its dining network to 75,000 bookable venues and deepen its international business, extending its earlier dining-platform buys of Resy and Tock.
The sale lets Tripadvisor sharpen its experiences-led overhaul after activist Starboard Value pushed last October for a TheFork divestiture amid a slow post-pandemic recovery and intense competition.
TheFork generated $232 million of revenue in the year ended March 31, up 25%, and connects millions of diners with more than 50,000 restaurants across 11 European countries.