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Elmsford-based Hudson Barter Exchange Acquired by NJ Firm

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August 17, 2023

By Rick Pezzullo—-

 The successful barter exchange company owned by Tarrytown Mayor Karen Brown and her husband Kevin for the last 16 years in Elmsford has been acquired by a New Jersey-based firm.

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The deal between Hudson Barter Exchange (HBX), a division of Hudson Trade Network, Inc., and BarterSaves, LLC, based in Red Bank, NJ, was finalized August 7

It is the fourth acquisition for BarterSaves, owned by George and René Ackerson, which now boasts a membership of approximately 3,000 members throughout New York, New Jersey, Pennsylvania, Maryland, Virginia, Florida and Washington D.C.

Kevin Brown, CEO of HBX, will serve as Vice President for BarterSaves and assist with the integration of HBX members into the BarterSaves system while continuing to provide the hands-on customer support that has become a hallmark of the company.

Meanwhile, Karen Brown will be exploring other opportunities.

“I’m excited about the opportunity this provides for HBX members. 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,” Kevin Brown said. “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.”

HBX amassed a membership of more than 1,000 businesses across a wide range of industries over the last 16 years. HBX provided business owners with options for selling more products and services through barter as well as opportunities to reduce overstocked inventory, sell available seats to sporting events, concerts and theatre events, and fill appointment time slots.

“We look forward to expanding the existing market while helping all of the barter members increase their purchasing power using barter instead of cash,” said George Ackerson, CEO of BarterSaves. “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.”

A barter exchange allows businesses and individuals to optimize their resources by trading goods and services without the need for cash, fostering new business relationships and expanding their network. Exchanges often use a system of “credit units” which are awarded to members who provide goods and services which can then be redeemed for goods and services from other members. In addition, it provides a structured platform for multi-party trades, eliminating the limitations of direct one-to-one bartering and enhancing liquidity in assets as well as providing a versatile and efficient alternative to traditional monetary transactions.

Hudson Trade Network, Inc. will maintain an ownership stake in BarterSaves, which was founded in 2015.

“It’s about not only making us more vibrant and effective of a company, but also sets up a five-year succession plan,” Kevin Brown said. “There’s a lot of room to grow.”





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