SAN MARCOS Calif. Submarina California Subs, the 65-unit, all-franchised sandwich chain, said last week that Kerensa Investment Fund 1 LLC had closed on a “significant investment” to help support the restaurant chain’s future growth.
Officials would not disclose the size of the investment. They said the San Marcos, Calif.-based sandwich chain plans to add 20 new units this year, up from the 18 locations opened last year.
“In the current economic environment, we are proud of our record growth in the past two years,” Jeff Warfield, Submarina chief executive officer, said in a statement. “The recent partnership with Kerensa enables us to build on this growth, financing the additional marketing and internal infrastructure necessary to increase Submarina’s market penetration and brand awareness.”
Mimi Zeller, Submarina president and chief operating officer, said the funding would be used for branding, advertising and local store marketing programs to increase awareness and drive customer traffic.
Contact Lisa Jennings at [email protected].