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TheFork Joins AmEx's Growing Global Dining Network in $700M Deal
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Key Takeaways
AXP plans to acquire TheFork from Tripadvisor in a deal valued at about $700 million.
AmEx will expand its dining network to roughly 75,000 bookable venues after the deal closes.
AXP adds a platform with 50,000 restaurants in 11 European countries and $232M in revenues.
American Express Company (AXP - Free Report) , has announced plans to acquire TheFork, a leading European restaurant reservation and management platform, from Tripadvisor, Inc. (TRIP - Free Report) in a deal valued at approximately $700 million. The transaction is expected to be closed before the end of 2026, subject to regulatory approvals and customary closing conditions.
TheFork connects diners with more than 50,000 restaurants across 11 European countries through its booking, discovery, and restaurant management platform. Once the deal closes, AmEx's global dining network will expand to roughly 75,000 bookable venues, giving cardholders access to a broader range of restaurant experiences. TheFork has generated roughly $232 million in revenues over the past 12 months, highlighting the scale of the business being added to AmEx's growing dining network.
The deal builds on an initiative that has been developing for several years. AmEx acquired Resy in 2019 and restaurant software provider Tock in 2024, steadily expanding its presence in restaurant reservations and hospitality technology. Earlier this year, management announced plans to combine Resy and Tock into a larger network, and TheFork adds another important piece to that effort.
While the acquisition is unlikely to materially boost earnings in the near term, it strengthens AmEx's efforts to deepen customer engagement, drive card spending, and expand its dining ecosystem. The deal also broadens its presence in Europe, a market that has been an important contributor to international cardmember spending growth.
The transaction also benefits Tripadvisor by simplifying the business and freeing up capital to support the growth of Viator, TRIP's higher-growth experiences marketplace.
Competitor Moves Into Dining
Unlike American Express, major rivals like Mastercard Incorporated (MA - Free Report) and Visa Inc. (V - Free Report) have largely expanded their dining offerings through partnerships rather than acquisitions.
Mastercard has strengthened its dining benefits through programs, such as the Mastercard Collection and Asia Gourmet Circle. These initiatives give MA's eligible cardholders restaurant reservations, exclusive dining experiences, and special perks across several international markets.
Visa has continued to expand its Visa Dining Collection through partnerships with platforms such as OpenTable. The program provides premium cardholders with reservations, curated dining events, and other dining-related benefits across multiple regions.
AXP’s Price Performance, Valuation & Estimates
Shares of AXP have risen 14% over the past year against the industry’s decline of 15.5%.
Image Source: Zacks Investment Research
From a valuation standpoint, AXP trades at a forward price-to-earnings ratio of 17.88X, up from the industry average of 10.17X. AXP carries a Value Score of C.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for AXP’s 2026 earnings is pegged at $17.59 per share, implying a 14.37% jump from the year-ago period’s level.
View the Zacks #1 Rank List
Image: Bigstock
TheFork Joins AmEx's Growing Global Dining Network in $700M Deal
Key Takeaways
American Express Company (AXP - Free Report) , has announced plans to acquire TheFork, a leading European restaurant reservation and management platform, from Tripadvisor, Inc. (TRIP - Free Report) in a deal valued at approximately $700 million. The transaction is expected to be closed before the end of 2026, subject to regulatory approvals and customary closing conditions.
TheFork connects diners with more than 50,000 restaurants across 11 European countries through its booking, discovery, and restaurant management platform. Once the deal closes, AmEx's global dining network will expand to roughly 75,000 bookable venues, giving cardholders access to a broader range of restaurant experiences. TheFork has generated roughly $232 million in revenues over the past 12 months, highlighting the scale of the business being added to AmEx's growing dining network.
The deal builds on an initiative that has been developing for several years. AmEx acquired Resy in 2019 and restaurant software provider Tock in 2024, steadily expanding its presence in restaurant reservations and hospitality technology. Earlier this year, management announced plans to combine Resy and Tock into a larger network, and TheFork adds another important piece to that effort.
While the acquisition is unlikely to materially boost earnings in the near term, it strengthens AmEx's efforts to deepen customer engagement, drive card spending, and expand its dining ecosystem. The deal also broadens its presence in Europe, a market that has been an important contributor to international cardmember spending growth.
The transaction also benefits Tripadvisor by simplifying the business and freeing up capital to support the growth of Viator, TRIP's higher-growth experiences marketplace.
Competitor Moves Into Dining
Unlike American Express, major rivals like Mastercard Incorporated (MA - Free Report) and Visa Inc. (V - Free Report) have largely expanded their dining offerings through partnerships rather than acquisitions.
Mastercard has strengthened its dining benefits through programs, such as the Mastercard Collection and Asia Gourmet Circle. These initiatives give MA's eligible cardholders restaurant reservations, exclusive dining experiences, and special perks across several international markets.
Visa has continued to expand its Visa Dining Collection through partnerships with platforms such as OpenTable. The program provides premium cardholders with reservations, curated dining events, and other dining-related benefits across multiple regions.
AXP’s Price Performance, Valuation & Estimates
Shares of AXP have risen 14% over the past year against the industry’s decline of 15.5%.
Image Source: Zacks Investment Research
From a valuation standpoint, AXP trades at a forward price-to-earnings ratio of 17.88X, up from the industry average of 10.17X. AXP carries a Value Score of C.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for AXP’s 2026 earnings is pegged at $17.59 per share, implying a 14.37% jump from the year-ago period’s level.
Image Source: Zacks Investment Research
AXP currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.