American Express Acquires TheFork From Tripadvisor For $700 Million

American Express has agreed to acquire TheFork from Tripadvisor for $700 million in cash, expanding its dining network to approximately 75,000 bookable venues worldwide. This transaction represents a significant move as American Express deepens its involvement in restaurant discovery alongside platforms like Resy and Tock. The deal is set to close by the end of 2026, pending regulatory approvals and labor consultations.

Summary of transaction details:

• Deal Type: Acquisition
• Transaction Amount: $700,000,000
• Acquirer: American Express
• Target: TheFork
• Headquarters of Acquirer: New York
• Key Executive: Almir Ambeskovic, CEO of TheFork

TheFork, under the leadership of CEO Almir Ambeskovic, emphasizes innovation and hospitality in its operations. The acquisition aligns with American Express’s strategy to promote dining as a crucial aspect of its membership offerings. This transaction follows a strategic review of TheFork by Tripadvisor, influenced by activist pressure from Starboard Value.