Australian Franchise News – 24-04-12
Bartercard Australia has acquired the entire 60% stake of the majority shareholder of Bartercard UK Ltd, a move that looks to aid further expansion across the UK.
Bartercard, which was founded on the Gold Coast in Australia over 21 years ago, has grown into the world’s largest business to business trade exchange with 55,000 businesses trading in six countries over $1billion a year.
UK CEO Simon Barker says the new acquisition will help better align Bartercard UK with the Australian powerhouse from which it started: “Since Bartercard Australia’s humble beginnings back in 1991, the company has become the model on which other operations around the world are based.
“We believe the new majority owners will help bring about further expansion for the UK via our core franchising and licensing model and deliver a bright future for Bartercard and its SME members.”
Wayne Sharpe will now step down from the role of Executive Chairman and CEO of the Bartercard Group after selling his majority stake. He will concentrate his efforts in the development of a new carbon trading company, Carbon Trade Exchange (CTX), in Sydney.
Although Bartercard began its history in Australia, the parent company moved to the UK over a decade ago. There are now more than 4,000 UK members offering around 10,000 different products and services on Bartercard.