American Express acquires TheFork from TripAdvisor for 700 million

TheFork one of the leading online platforms for finding and managing restaurant reservations in Europe, goes by TripAdvisor ad American Express. TripAdvisor announced that it has reached an option agreement to sell the ad business American Express for $700 million cash. The proposed acquisition, explains American Express in a note, “is part of the broader strategy in the restaurant sector and follows the success of the acquisitions of Resy and Tock”.

Taken together, these platforms should allow American Express to extend its network with approximately 75,000 bookable restaurants. TheFork connects millions of users to over 50,000 restaurants in 11 European countries through its platform for managing reservations, customer relations and restaurateur activities, supported by an app and a website for discovering and booking restaurants. With the acquisition of TheFork, American Express would strengthen its catering offering in Europe and the ability to offer cardholders and consumers access to high-demand restaurants, while supporting the growth of its international business, one of the Group’s key growth drivers.”

Statements from the leaders of American Express and TheFork

“Dining is one of the primary ways people come into contact with our brand,” said Rafa Marquez, president of International Card Services at American Express. “Over time, the proposed acquisition would allow us to strengthen our distinctive Membership model, offering Card Members new opportunities to discover, book and access quality restaurants, while supporting our restaurant partners to expand their customer base and grow their business. TheFork has built a successful platform across Europe, developing strong relationships with operators in the restaurant sector that would enrich our current service offering. We are excited by the prospect of supporting TheFork’s growth path and capitalizing on its success while strengthening our presence in the restaurant sector in Europe.”

“TheFork was born with the aim of support the growth of restaurants and to make it easier for consumers to discover and book great restaurants – said Almir Ambeskovic, chief executive officer of TheFork – Thanks to the support of TripAdvisor, we have developed one of the main European platforms for restaurant bookings. American Express shares our commitment to innovation, quality of service and hospitality. Together we will have a unique opportunity to accelerate our mission, creating even more value for restaurants and offering increasingly richer and simpler experiences to millions of users in Europe.”

The history of the platform and future prospects

Founded in 2007, TheFork offers restaurateurs solutions for managing reservations, interacting with customers and optimizing operational activities, contributing to improving commercial performance while ensuring a simple booking experience for customers. Following the closing of the transaction, TheFork would continue to operate under the leadership of current management, while benefiting from the global reach and support capabilities of American Express.

The financial details and timing of completion of the transaction

Completion of the proposed transaction is expected by the end of 2026, subject to the consultation procedures required by labor legislation and the usual conditions expected for transactions of this nature, including the necessary regulatory authorizations. Under the terms of the proposal, American Express will acquire TheFork from TripAdvisor for a consideration of $700 million, to be paid entirely in cash and subject to customary price adjustments.