American Express Acquires TheFork for USD 700 Million

✦ Meridian Analysis

American Express has signed an agreement to acquire TheFork, the restaurant‑booking platform, in an all‑cash transaction valued at $700 million. The transaction reinforces the financial institution's strategic expansion within the hospitality sector. The purchase price reflects an implied EV/EBITDA multiple of 25.0× and an EV/Sales multiple of 3.0× based on TheFork’s reported $232 million revenue and $28 million adjusted EBITDA for the twelve months ended March 31, 2026. Goldman Sachs acted as financial adviser to TripAdvisor and TheFork on the transaction, while Goodwin Procter LLP and Reed Smith LLP served as legal advisors to TripAdvisor and TheFork. Closing is expected before the end of 2026, subject to labor‑consultation and regulatory (antitrust) approvals. Deal professionals will watch the regulatory timeline, particularly the labor‑consultation process in Europe.

Additional sources: American Express to buy Tripadvisor's restaurant booking unit in $700 million deal | Reuters

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