American Express announced it is acquiring TheFork, a restaurant reservation platform owned by TripAdvisor, for $700 million to deepen its footprint in Europe’s dining scene and broaden its membership offer.

Rafa Marquez of Amex explains the deal will enrich the membership model by expanding ways to discover, book, and access top restaurants, while helping partners reach more diners and grow their businesses.

The acquisition aims to expand Amex’s restaurant network to about 75,000 establishments after integration, boosting access to in-demand dining options for customers and supporting international growth.

For TripAdvisor, the deal marks a planned exit from TheFork to focus on Viator Experiences, with Goldman Sachs advising on the transaction.

The transaction is expected to close by the end of 2026, following regulatory approvals and standard employee consultations.

The deal includes customary adjustments and is contingent on labor consultations and regulatory clearances, with an all-cash structure.

An all-cash put-option structure underpins the deal, with closing anticipated before year-end 2026 subject to consultations and approvals.

Activist investor Starboard Value has pressured TripAdvisor to divest TheFork to streamline operations amid competition from Booking Holdings and Airbnb.

Financial market reaction saw Amex stock rise roughly 4%, while TripAdvisor gained about 4% after the announcement; pre-market, TripAdvisor climbed over 14%.

Post-close, TheFork will continue operating under its current leadership, with TheFork remaining in place as part of the integration.

The deal was announced on June 15, 2026, with completion expected by year-end 2026 and TheFork’s management continuing to lead post-acquisition.

The transaction is part of a broader shift toward monetizing experiences like travel and dining to justify premium card memberships, potentially creating a moat through ownership of the booking funnel.