American Express has signed an agreement to acquire TheFork from Tripadvisor for $700 million in an all-cash transaction.
American Express said the acquisition will enable it to grow its dining offering in Europe, where TheFork provides reservation and restaurant management capabilities for more than 50,000 restaurants across 11 countries.
In February during the company’s Q4 and full year 2025 earnings report, Tripadvisor said it was exploring “strategic alternatives” for TheFork.
The sale comes after years of pressure on Tripadvisor's core business.
Brand Tripadvisor's legacy hotel and metasearch revenue has been declining steadily even as its marketplace units grew. Activist investor Starboard Value, which took a 9% stake in the company in July 2025, calling it "undervalued," escalated that pressure through early 2026, calling for a management overhaul and proposing a sale of the whole company.
Meanwhile TheFork was among Tripadvisor's stronger performers heading into the deal, posting 23% revenue growth in Q1 2026 and turning EBITDA positive, even as total group adjusted EBITDA fell 50% year over year.
But Viator, which Tripadvisor considered spinning off in 2022, has become the group's strategic anchor, and TheFork, geographically concentrated in Europe, does not fit the direction Tripadvisor has been building toward.
“This agreement reflects two things we believe deeply: the tangible value across Tripadvisor Group’s portfolio and our ongoing focus on the opportunity we see ahead in Experiences,” said Matt Goldberg, CEO of Tripadvisor Group.
“We’re proud of what we’ve built with TheFork and grateful for the team’s work to secure a leading position in European dining. I’m confident that we’ve found an ideal home for them and look forward to expanding our relationship with American Express in the future.”
Originally founded as La Fourchette in 2007, the company was acquired by Tripadvisor in 2014 and over the next seven years transitioned to the name TheFork across all markets.
“Dining is one of the most important ways people engage with our brand,” said Rafa Marquez, president of international card services at American Express. “Over time, the proposed acquisition would help us enrich our differentiated Membership Model by offering Card Members more ways to discover, book and access great restaurants, while helping our partners reach more diners and grow their businesses.
“TheFork has built a successful platform across Europe with strong relationships throughout the restaurant industry that would complement our existing capabilities. We look forward to supporting TheFork’s continued growth and building on its success as we strengthen our dining presence across Europe.”
Following the close of the transaction, expected before the end of this year, American Express said TheFork will continue to operate under its existing leadership team.