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 SOMERSET, N.J., Oct. 25 /PRNewswire/ --Jutland Enterprises said today it has completed the previously announced purchase of Howberg's Equipment Company, a leading manufacturer of bagel equipment, and Goldberg's Famous Bagels, an affiliated chain of retail bagel and sandwich shops in northeastern New Jersey. Although specific terms were not disclosed, the total value of the transaction is approximately $3.5 million.
 Howberg Equipment of Westwood, N.J., a family-owned company, is a pioneer in the manufacture and distribution of equipment specially designed for the bagel industry, including kettles, mixers, and ovens. It is estimated that 1,000 bagel shops across the country use Howberg equipment.
 In addition to the equipment business, Jutland has also purchased Howberg's sister company, Goldberg's Famous Bagels, with ten locations in selected areas of North Jersey. Originally created to allow Howberg to test its innovative bagel equipment and to maintain its expertise at a high level, these bagel shops have become highly profitable retail operations -- an ideal platform for expansion through franchising.
 Jutland Enterprises, an experienced operator and franchisor of food concepts, also has plans for the expansion of its existing concepts -- Cafe 2000 and Yellow Submarine.
 Cafe 2000 is a bakery cafe concept designed specifically for office buildings and commercial strip centers. Yellow Submarine is a popular submarine sandwich concept that has been in continuous and profitable operation in New Rochelle, N.Y., for over 22 years.
 "If I were to bet on anything over the next several years, I'd bet on bagels," said Andrew Thorburn, Jutland president and CEO. "Our acquisition of Howberg is a great opportunity to profit by our country's bagel boom. They have been a respected family-owned company for over 50 years, and their knowledge and reputation in the bakery business will help us get off to a running start in this fast-moving bagel market."
 The Commerce Department estimates that more than 800 million pounds of bagels were sold last year, amounting to nearly 5 million bagels. This projects to over a billion-dollar retail market, and one of the fastest-growing segments of the food industry.
 Jutland is a publicly traded company listed on the OTC Bulletin Board under the symbol JUTL. In addition to this recently announced acquisition, Jutland is currently in exploratory conversations with several other food companies with complementary operations.
 -0- 10/25/93
 /CONTACT: Andrew Thorburn, president of Jutland, 908-271-8181, or Tom Lisker of Lisker Gadney Stover, 212-983-6345, for Jutland/

CO: Jutland Enterprises; Howberg's Equipment Company; Goldberg's
 Famous Bagels ST: New Jersey IN: LEI FOD SU: TNM

JS -- NY005 -- 6144 10/25/93 09:00 EDT
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Publication:PR Newswire
Date:Oct 25, 1993

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