American Express Co. (NYSE:AXP) shares rose 1.3% in premarket trading on Monday after the company announced an agreement to acquire TheFork from Tripadvisor Inc. (NASDAQ:TRIP) in a transaction valued at $700 million.
The proposed acquisition is designed to strengthen American Express’ dining ecosystem and expand its footprint across key European markets.
Deal Expands Restaurant Booking Network
TheFork operates a restaurant reservation and management platform spanning 11 European countries, connecting consumers with more than 50,000 restaurant partners.
Once combined with American Express’ existing dining platforms, Resy and Tock, the acquisition would increase the company’s network to approximately 75,000 bookable restaurants worldwide.
The move is expected to enhance the range of dining experiences available to American Express customers while broadening opportunities for restaurant partners.
Europe Remains a Strategic Growth Market
Founded in 2007, TheFork provides restaurants with a suite of tools covering reservations, guest engagement and operational management, alongside its consumer-facing booking app and website.
American Express views the acquisition as an opportunity to strengthen its position in Europe, a region that continues to play an important role in the company’s long-term growth strategy.
Transaction Expected to Close in 2026
Under the terms of the agreement, American Express will pay $700 million in cash for TheFork, subject to customary adjustments.
The transaction is expected to be completed before the end of 2026, pending regulatory approvals and required labour consultation processes.
Following completion, TheFork will continue to operate under its current leadership team.
Dining Strategy Continues to Evolve
American Express said the acquisition will help expand the ways cardholders can discover, reserve and access restaurants while also helping hospitality partners attract additional customers.
“Dining is one of the most important ways people engage with our brand,” said Rafa Marquez, President of International Card Services at American Express. “Over time, the proposed acquisition would help us enrich our differentiated Membership Model by offering Card Members more ways to discover, book and access great restaurants, while helping our partners reach more diners and grow their businesses.”
The acquisition represents another step in American Express’ broader strategy of building a comprehensive dining and lifestyle platform that delivers added value to both consumers and restaurant operators.