Elmsford-Based Barter Exchange Firm Acquired By New Jersey Company

ELMSFORD, NY — A unique Hudson Valley business has merged with a New Jersey firm to become part of an expanded network and movement with growing popularity.

New Jersey-based BarterSaves has announced the acquisition of Hudson Barter Exchange (HBX), a division of Hudson Trade Network, Inc. The deal, finalized on August 7, is the fourth acquisition for the company. The acquisition means the new exchange will have 3,000 members across New Jersey, New York, Pennsylvania, Maryland, Virginia, Florida, and Washington DC.

Barter exchanges help businesses and individual customers trade goods and services without the need for cash. According to the company, the process fosters new business relationships while needed supplies and services are obtained.

Exchanges often use a system of "credit units" which are awarded to members who provide goods and services. Those credits can then be redeemed for goods and services from other members.

The exchanges also provide a structure for multi-party trades.

HBX, located in Elmsford, grew a membership of more than 1,000 businesses across a wide range of industries over the last 16 years.

Owned by Kevin and Karen Brown, HBX's popularity grew as Hudson Valley business owners sought new ways to sell their products and services through barter. According to the company, HBX built its reputation offering opportunities to reduce overstocked inventory, sell available seats to sporting events, concerts and theater events, and fill appointment time slots.

Hudson Trade Network, Inc. will maintain an ownership stake in BarterSaves, according to the firm. Kevin Brown, CEO of HBX, will serve as Vice President for BarterSaves and assist with the integration of HBX members into the BarterSaves system. He has promised to continue to provide the hands-on customer support which has become a hallmark of the company.

"I’m excited about the opportunity this provides for HBX members," Brown said in a statement. "It will give them a larger network to sell their products and services to as well as many more options for using their barter credit. George and René Ackerson are veterans of the barter business and place equal importance on execution and integrity when operating a reciprocal trade exchange. We anticipate this will increase membership as well as more businesses understand the benefits of this vast network."

The owners of BarterSaves, George and René Ackerson, said they are excited to expand into the New York metro region.

"We look forward to expanding the existing market while helping all of the barter members increase their purchasing power using barter instead of cash," Ackerson said. "The HBX region is a fantastic addition to the family of markets that BarterSaves currently serves. Having Kevin on board accelerates our ability to execute the larger vision and long-term goals of the company."

More information about BarterSaves can be found on their website or by calling 800-9-BARTER extension 100 or emailing rene@bartersaves.com. The company’s Facebook page can be found here.