American Express to Buy TheFork

American Express Company (NYSE: AXP) will acquire TheFork under a binding put-option agreement announced June 15, 2026. The deal allows Tripadvisor, Inc. (NASDAQ: TRIP) to refocus on its Experiences business while awaiting a French Works Council consultation and regulatory approvals.

Put Option Agreement and Closing Conditions

Tripadvisor has entered a binding put option granting it the right to require American Express or its affiliate to acquire all equity interests in TheFork group, including LaFourchette SAS and affiliates. The definitive equity purchase agreement cannot be signed until a French Works Council consultation for LaFourchette SAS is complete, as mandated by French labor law. Closing depends on regulatory approvals and customary conditions, with both companies expecting completion before the end of 2026. These terms were detailed in Tripadvisor’s Form 8-K filing.

Purchase Price and Tripadvisor’s Capital Strategy

Tripadvisor said the purchase price is $700 million in cash, subject to customary adjustments. TheFork generated $232 million in revenue for the 12 months ended March 31, 2026, reflecting 25% year-over-year growth. Tripadvisor anticipates minimal tax costs, so net proceeds should closely match gross proceeds. The company plans to use the funds for share repurchases, debt reduction, or inorganic investment within its Experiences segment. Tripadvisor described the sale as part of a portfolio simplification following its February announcement to explore strategic alternatives for TheFork.

American Express’s Dining Expansion

American Express described TheFork as a leading online restaurant reservation and management platform connecting millions of diners with over 50,000 restaurants across 11 European countries. The platform offers merchant tools for reservation and inventory management, customer engagement, marketing capabilities, and a consumer app for restaurant discovery and booking. The acquisition aims to expand American Express’s dining offerings in Europe and build on prior purchases of Resy and Tock. Together, these platforms could extend American Express’s network to roughly 75,000 bookable venues globally, enhancing cardmember engagement around dining and experiences. The deal complements American Express’s focus on travel, dining, and experiences and supports its international expansion.

“The transaction highlights the value of Tripadvisor’s portfolio and enables greater focus on experiences,” Tripadvisor said in its press release.