This is likely the dumbest intercompany comic book crossovers ever.
Comic is about the Punisher hunting down a drug dealer called Red (however a deal the Punisher made with the government means he cannot use his normal lethal methods). Red decided go to Riverdale (home of Archie). Unfortunately, Red looks like Archie (although the art makes Red look more muscular, but this wasn't commented on) and as such this leads to a comedy of error. After the Punisher and Archie figure out what is going on, they team up to capture Red. The comic ends with Professor Xavier telling Wolverine to hunt the world's most powerful mutant: Jughead.
My sources were the Wikipedia Page "Archie Meets the Punisher" and the actual Archie Meets the Punisher comic.