B.Grimm

What B.Grimm does

B.Grimm is a privately held Thai conglomerate founded in 1878 by German pharmacist Bernhard Grimm as Siam Dispensary, now in its fourth generation of Link family ownership under Chairman Dr. Harald Link and Co-Chairman Caroline Link. Headquartered in Bangkok, the group operates seven business units: B.Grimm Power (4,155 MW of installed gas-fired, solar, wind, and hydropower capacity, with the listed subsidiary B.Grimm Power Public Company Limited on the Stock Exchange of Thailand targeting 10,000 MW of secured PPAs by 2030), B.GRIMM Pharma (a vertically integrated pharmaceutical platform built around the 2022 acquisitions of Unison, Medline, F.C.P., and All Research, distributing 800+ products through 5,000+ domestic locations and 17+ international partnerships), Industrial Businesses (HVAC, building systems, pumps, and mass transit solutions delivered through JVs with Carrier, KSB, Babcock, Siemens, and others), Healthcare JVs (Merck, Getinge, and Carl Zeiss), Real Estate (Alma Link Building and Dr. Gerhard Link Building in Bangkok), Lifestyle (luxury brands under LBG), and B.Grimm Capital Partners (Southeast Asian private investment).

The group's core technologies centre on industrial-scale clean energy production (gas-fired co-generation plus renewable generation, supported by secured LNG shipper licenses for downstream value-chain integration) and pharmaceutical manufacturing certified to PIC/S GMP, ISO 9001/14001/45001/50001, ISO/IEC 17025, Halal, and Green Industry Level 4 standards. Revenue mechanics span recurring power purchase agreements with 300+ industrial users, pharma distribution and contract manufacturing (OEM/ODM), industrial B2B equipment sales, commercial property leasing, and capital partnership returns. The conglomerate has been supported externally by Asian Development Bank debt ($57.7M in 2017 and approximately $235M in 2018) for power expansion, and won the Thai FDA Quality Award in 2025. Distribution is predominantly direct to enterprise industrial and hospital customers, supplemented by global JV partner networks; pricing is negotiated B2B rather than publicly disclosed.

Name

B.Grimm

Legal name

B.Grimm Joint Venture Holding Limited

Website

https://bgrimmgroup.com

Company type

Private

Founded year

1878

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

B.Grimm is a privately held Thai conglomerate founded in 1878 operating across energy (4,155 MW installed capacity), pharmaceuticals (800+ products across 5,000+ Thai distribution points), industrial systems, healthcare JVs, real estate, lifestyle, and capital partnerships, serving industrial users, hospitals, and ASEAN enterprise customers.

Ownership category

akta.pro rank

Headquarters

HQ city

Bangkok

HQ country

Thailand

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Technology or R&D, Supply Chain, Marketing or Sales

Revenue model

1. Power Generation and Distribution: B.Grimm Power operates gas-fired electricity and steam-generating power plants, solar, wind, and hydropower projects. Total installed capacity is 4,155 MW with goal of 10,000 MW secured power purchase agreements by 2030.
2. Pharmaceutical Products: Manufacturing, marketing, sales, and distribution of generic pharmaceuticals including locally manufactured and imported medicines, dietary supplements, and cosmetic health products through B.GRIMM Pharma subsidiaries including Unison (800+ registered pharmaceutical products), Medline (distribution to 5,000+ locations), F.C.P. (consumer health products and contract manufacturing), and All Research (clinical research services).
3. Industrial Solutions: Solutions for energy optimization, smart integration, and well-being for industrial and commercial businesses including building materials, cooling systems, energy equipment, and transportation systems through partnerships with global companies.
4. Real Estate: Development and management of commercial real estate including Alma Link Building (central business district) and Dr. Gerhard Link Building (eastern Bangkok near Suvarnabhumi airport), and 1,500-rai real estate project in Pattaya.
5. Investment and Capital Partners: Southeast Asian investment through B.Grimm Capital Partners, partnering with likeminded owner-entrepreneurs, investing in companies for growth, with flexibility to structure investments as equity, debt or combination across Thailand and ASEAN.

Go-to-market motion1 record

Distribution channels6 records

Marketing channels4 records

Core offering

B.Grimm is a diversified multi-business corporation operating across seven business units: industrial power generation (B.Grimm Power with 4,155 MW installed capacity across gas, solar, wind, and hydro sources), pharmaceutical manufacturing and distribution (B.GRIMM Pharma with subsidiaries Unison, Medline, F.C.P., and All Research), industrial solutions for energy optimization and building systems, healthcare product partnerships with global leaders (Merck, Getinge, Carl Zeiss), commercial real estate development, lifestyle brands, and Southeast Asian private equity investment (B.Grimm Capital Partners).

Product overview

B.Grimm is a diversified multi-business corporation with seven main business units: B.Grimm Power (energy production with 4,155 MW installed capacity), B.GRIMM Pharma (pharmaceuticals and well-being solutions), Industrial Businesses (energy optimization and smart integration), Healthcare (medical products partnerships), Lifestyle (premium products and services), Real Estate (commercial property), Digital Division (technology solutions), and B.Grimm Capital Partners (investment). B.GRIMM Pharma operates as a fully integrated pharmaceutical ecosystem through its subsidiaries Unison (manufacturing), Medline (distribution), F.C.P. (consumer health products and contract manufacturing), and All Research (clinical R&D).

Differentiator

Problem solved

Functional benefit

Brands

• B.GRIMM Pharma: Pharmaceutical and healthcare solutions division including Unison, Medline, F.C.P., and All Research subsidiaries
• Unison
• Medline
• F.C.P.
• All Research
• PrimoCare Clinic
• Nutrimaster
• Concept
• EXXE
• Clearasoft
• LBG (Link and B.Grimm)

Products and services

• B.Grimm Power One of Thailand's leading industrial power producers focused on cleaner energy production through gas-fired electricity and steam-generating power plants, solar, wind, and hydropower projects, with 4,155 MW total installed capacity and goal of 10,000 MW secured power purchase agreements by 2030.
• B.GRIMM Pharma Thailand's leading developer and provider of pharmaceutical and well-being solutions, operating across the entire pharmaceutical value chain from R&D to manufacturing, marketing, sales, and distribution of generic pharmaceuticals, dietary supplements, and cosmetic health products.
• Industrial Businesses Provides solutions focused on energy optimization, smart integration, and well-being for industrial and commercial businesses, including building materials, cooling systems, energy equipment, and transportation solutions through partnerships with world-leading companies such as Carrier, KSB, Babcock, Siemens, and Beijer.
• Healthcare Joint Ventures Healthcare division delivering the latest medical products and technology to the Thai market through joint ventures with Merck Thailand, Getinge Thailand, and Carl Zeiss Thailand, covering medical optical technology, surgical equipment, and pharmaceutical products.
• Lifestyle (LBG) Lifestyle division offering refined natural cuisine, upscale cosmetics, elegant fashion, international sport brands, country club services, and luxury products through partnerships including Provence restaurants, Paris Spa, and Ma Maison fashion.
• Commercial Real Estate Develops and manages commercial real estate including the Alma Link Building in Bangkok's central business district, the Dr. Gerhard Link Building near Suvarnabhumi airport, and a 1,500-rai real estate project in Pattaya.
• B.Grimm Capital Partners Southeast Asian private equity investor partnering with like-minded owner-entrepreneurs, investing in companies for growth with flexible structures including equity, debt, or combination across minority and control positions throughout Thailand and ASEAN.
• Unison Pharmaceutical Manufacturing Pharmaceutical manufacturing company founded in 1956, producing high-quality generic medicines and medical supplies with GMP, ISO, and Halal certifications meeting stringent Thailand FDA and Ministry of Public Health standards. Offers 800+ registered pharmaceutical products.
• Medline Pharmaceutical Distribution Pharmaceutical distribution company established in 1989, specializing in importation and distribution of pharmaceutical products, medical supplies, equipment, OTC medicines, and healthcare products through a robust distribution network spanning over 5,000 locations nationwide in Thailand and partnerships in over 17 countries internationally.
• F.C.P. Consumer Health and Contract Manufacturing Established in 1996, F.C.P. manufactures consumer health products including supplements (Nutrimaster brand) and cosmetics (Concept, EXXE, Clearasoft brands), and offers comprehensive contract manufacturing solutions under OEM and ODM models.
• All Research Clinical Research Services Founded in 2011, provides clinical research services focused on bioequivalence studies, leveraging cutting-edge technology and innovation to support clinical research for pharmaceutical and well-being products.

Quantifiable outcome

• 4,155 MW total installed capacity serving 300+ industrial users
• +3 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

14 partnerships are on record, tiered minor and core.

• Gross National Happiness Centre BhutanminorStrategic or Co-development Partner · 1 January 2016Partnership established in 2016 to implement the concept of Gross National Happiness into business context, starting from employee well-being. Led to establishment of GNH Centre Thailand.
• Maquet/Getinge ThailandcoreStrategic or Co-development Partner · 1 January 2009Joint venture with Maquet (now part of Getinge Group) established in 2009 for surgical tables and medical equipment distribution in Thailand.
• Siemens ThailandcoreStrategic or Co-development Partner · 1 January 1995Joint venture with Siemens established in 1995 for electrical systems and technology solutions. B.Grimm and Siemens have a long history including supplying Bangkok's first skytrain in 1994.
• Merck ThailandcoreStrategic or Co-development Partner · 1 January 1991B.Grimm established joint venture with Merck in 1991, forming one of Thailand's leading pharmaceutical partnerships. Merck is a global leader in healthcare and life sciences, providing access to world-class medical products and technology in Thailand.
• Carl Zeiss ThailandcoreStrategic or Co-development Partner · 1 January 1991Joint venture established with Carl Zeiss in 1991 for medical optical technology distribution and support in Thailand. Zeiss is a global leader in optics and optoelectronics.
• Biomonde ThailandminorChannel Partner/ Reseller/ DistributorHealthcare partner in Thailand for distribution of medical products and healthcare solutions.
• KSB PumpscoreChannel Partner/ Reseller/ DistributorGlobal pump manufacturer partnership for industrial fluid handling solutions including electrical products, fire and water pumps through B.Grimm Technologies.
• MBM MetalworkscoreChannel Partner/ Reseller/ DistributorPartnership for facade systems and building envelope solutions for commercial and industrial buildings.
• B.Grimm CarriercoreChannel Partner/ Reseller/ DistributorAir conditioning production and supply, HVAC system optimization through Carrier partnership covering residential and industrial applications.
• Beijer B.GrimmcoreChannel Partner/ Reseller/ DistributorRefrigeration solutions partnership for commercial and industrial cooling applications.
• B.Grimm Babcock PowercoreTechnology or IntegrationEnergy equipment partnership for boilers, heat exchangers, HRSG (Heat Recovery Steam Generators), and cooling towers.
• B.Grimm TechnologiescoreChannel Partner/ Reseller/ DistributorBuilding materials, electrical products, fire and water pumps, lighting solutions, facades systems, hospitality and safety solutions. Previously known as B.Grimm Trading.
• The MET Store ThailandminorChannel Partner/ Reseller/ DistributorNew York Metropolitan Museum of Art Store partnership in Bangkok for lifestyle and cultural products.
• NymphenburgminorChannel Partner/ Reseller/ DistributorRoyal porcelain of Bavaria family partnership, promoting art and culture in Thailand.

Scale indicators8 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Siam Cement Group (SCG): Thai conglomerate operating across cement, chemicals, packaging, and other industrial verticals. SCG is the most directly comparable Thai diversified industrial conglomerate in scale, structure, and decades-long family-influenced governance.
• Charoen Pokphand (CP) Group: Thailand's largest private conglomerate spanning food, retail, telecommunications, and pharma. CP Group is comparable as a multi-generational Thai diversified holding with international reach and a similar breadth of operating businesses.
• Mega Lifesciences: Public Thai pharma company focused on distribution, branded generics, and consumer health across emerging Asia. Mega is the closest direct comp to B.GRIMM Pharma's generic-pharma distribution and consumer health model.

Broad incumbents

• Gulf Energy Development: One of Thailand's largest independent power producers with substantial gas-fired and renewable capacity. Gulf is a direct comp for B.Grimm Power's core energy business and a key competitive benchmark for the 10,000 MW capacity target.
• Ratch Group: Thai state-affiliated power producer with renewable energy and conventional generation assets. Ratch competes directly with B.Grimm Power for industrial PPAs and is a comparable for renewable-heavy power generation economics.
• Bangkok Dusit Medical Services (BDMS): Thailand's largest private hospital network serving a similar Thai healthcare customer base. BDMS is comparable as a major Thai healthcare player and a downstream customer/partner for B.Grimm Pharma's distribution scale.

Regional players

• Keppel Corporation: Singapore-listed conglomerate with energy, infrastructure, and real estate divisions. Keppel is a comparable regional diversified holding with a similar energy-plus-real estate portfolio mix, though operating primarily outside Thailand.
• Sembcorp Industries: Singapore-listed energy and urban development conglomerate with renewables and industrial operations across Southeast Asia. Sembcorp is comparable as a regional energy-led conglomerate competing for the same ASEAN industrial customer base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/bgrimmgroup
• LinkedInlinkedin.com/company/b-grimm
• Instagraminstagram.com/bgrimmgroup

Compliance13 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries15 records

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about B.Grimm