DealsJun 15, 2026, 08:46 AM
Tripadvisor to Sell TheFork to American Express for $700M
AI Summary
Tripadvisor, Inc. has entered into a put option agreement to sell its European online restaurant reservation and management platform, TheFork, to American Express for $700 million in an all-cash transaction. The deal, announced on June 15, 2026, follows Tripadvisor's earlier decision to explore strategic alternatives for TheFork. The transaction is expected to close by the end of 2026, subject to regulatory approvals and completion of French labor consultations. Tripadvisor anticipates minimal tax costs from the sale, with net proceeds expected to closely approximate gross proceeds, potentially funding share repurchases, debt paydown, or investments in its experiences business.
Key Highlights
- Tripadvisor enters into a put option agreement to sell its European online restaurant platform, TheFork, to American Express.
- The all-cash transaction is valued at $700 million, subject to certain adjustments.
- The sale is expected to be completed by the end of 2026, pending regulatory approvals and completion of French labor law consultations.
- TheFork reported $232 million in revenue and $28 million in adjusted EBITDA for the twelve months ending Q1 2026.
- Proceeds from the sale may be used for share repurchases, debt paydown, or investments in Tripadvisor's experiences business.
Price Impact
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