Tripadvisor Enters into Agreement to Sell TheFork to American Express for $700 Million
Tripadvisor, Inc. has announced a put option agreement to sell TheFork, its online restaurant reservation and management platform in Europe, to American Express for $700 million in an all-cash transaction. The agreement marks a strategic move following Tripadvisor's February 2026 announcement to explore alternatives for TheFork, allowing the company to concentrate more on its Experiences strategy.
Matt Goldberg, CEO of Tripadvisor Group, stated, "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." He expressed pride in TheFork's accomplishments in the European dining sector and looked forward to collaborating with American Express in the future.
The transaction is anticipated to enhance Tripadvisor's flexibility in returning capital, maintaining a robust balance sheet, and investing in its Experiences business. Both companies envision opportunities to leverage their existing relationship to deliver additional value to travelers.
Stephen Squeri, Chairman and CEO of American Express, expressed enthusiasm for the acquisition and the potential to strengthen its partnership with Tripadvisor. He highlighted opportunities to create more value for customers through their combined strengths in dining, travel, and experiences.
The deal is expected to close before the end of 2026, subject to labor consultations and customary closing conditions, including regulatory approvals. Tripadvisor projects minimal tax costs from the sale of TheFork, with net proceeds anticipated to closely align with gross proceeds. Planned uses of the funds include share repurchases, debt reduction, or investments in the experiences category.
As of the first quarter of 2026, TheFork reported a last twelve-month revenue of $232 million, with an adjusted EBITDA of $28 million for the same period. Goldman Sachs served as the financial advisor, while Goodwin Procter LLP and Reed Smith LLP acted as legal advisors in the transaction.