Investment company Freedom International Group (FIG) has announced an investment in Elitepharm Laboratoires to introduce artificial intelligence (AI) into the nutraceuticals sector.
Elitepharm is a French company focused on producing customised dietary supplements. It offers services such as research and development (R&D), private-label manufacturing, and solutions for projects of all sizes.
Following its investment, Freedom International Group has become one of the key shareholders in the dietary supplements producer.
Freedom International Group president and CEO Narek Sirakanayan said: “Freedom is making a strategic investment in the healthcare sector.
“We have two businesses, Project V and CoffeeCell, in the industry and we believe France represents the best location for producing Dietary Food Supplements in the world, due to its close sourcing of active ingredients, very strict regulation in the industry and the technology of freezing.
“We will bring the big expertise of our IT company Sessia to invest in AI technology to produce more efficient products, obtain faster and more reliable results on focus groups.”
The partnership also strengthens Project V’s production of 40 supplement products at Elitepharm.
Freedom International Group’s investment is also expected to accelerate Elitepharm’s industrial growth and expansion. The French firm is aiming for €50m in revenue by 2029.
Currently producing 25 million capsules per month, Elitepharm plans to double its production.
Its expansion will focus on several strategic areas. Elitepharm intends to enhance its current facilities while acquiring new production sites to increase capacity and meet growing international demand.
To ensure optimal traceability and quality control of ingredients, the supplement firm will also invest in acquiring farms dedicated to the cultivation of organic raw materials.
Additionally, the company will continue to expand its private-label portfolio by collaborating with experts, strengthening its scientific teams, and pursuing acquisitions to stay competitive while remaining at the forefront of industry trends.
Elitepharm president and CEO Gérard Strauch said: “FIG’s investment will allow us to take things to the next level and establish Elitepharm as a major player in Europe.
“We share the same strategic vision and are convinced that innovation and industrialisation are the keys to success.”
