Industry News | November 15, 1999

Wrapsters Completes Buyout of 1 Potato 2

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Wrapsters, Inc./NYB Foods, Inc. (OTCBB: WRAP - news), a franchisor of quick service restaurants, announced today the completion of the buyout of the 29-store 1 Potato 2 restaurant chain, based in Minneapolis, MN.

The 1 Potato 2 nationally recognized quick service franchise concept has capitalized on the trend toward healthy eating over the past twenty years. The stores serve baked potatoes with a variety of toppings, as well as salads, beverages and desserts.

"I am pleased to add 1 Potato 2 brand to our growing company," said Robert Palmer, president of Wrapsters and NYB Foods, Inc.

Addition of the 1 Potato 2 chain will add about $9 to $10 million in annual sales, bringing the total combined system-wide sales for both brands to about $30 million.

Palmer added that the company "plans to apply the same aggressive growth strategy that has seen New York Burrito Gourmet Wraps grow from 2 units in January 1997 to 70 now, with 80 expected by years end."