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."

News and information presented in this release has not been corroborated by QSR, Food News Media, or Journalistic, Inc.