Tripadvisor has entered into a put option agreement to sell its online restaurant reservation and management platform in Europe, TheFork, to American Express for $700 million.
The all-cash transaction, which is expected to close before the end of 2026, comes just four months after the company revealed it was exploring strategic alternatives for TheFork so it could focus fully on its experiences strategy.
The deal, which is subject to labor consultation and customary closing conditions, including regulatory approvals, is expected to provide significant flexibility for Tripadvisor to accelerate its capital return policy and drive shareholder value, the company said on Monday.
"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," Tripadvisor Group CEO Matt Goldberg said in a statement.
"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," said Goldberg.
"In addition to welcoming TheFork to the American Express family, we're excited about the opportunity to deepen our relationship with Tripadvisor going forward," added Stephen Squeri, Chairman and CEO, American Express. "By building on our shared strengths across dining, travel, and experiences, we have opportunities to create even greater value for customers and partners."
Topics From This Article to Explore
