How $200M Puris Pea Protein Business Fuels Ozempic Generation
In the era of GLP-1 medications like Ozempic, millions are transforming their diets to prioritize protein for muscle preservation and sustained weight loss. Pea protein for Ozempic users has emerged as a key ally, and no company embodies this shift better than Puris Proteins. This Minneapolis-based manufacturer of pea and soy protein powders has quietly become an AgTech powerhouse, with shelves stocked with protein-packed cereals, pastas, and sports drinks tailored to the Ozempic generation.
"What GLP1-users all want is to get more protein in their diet," says Tyler Lorenzen, CEO of Puris Proteins. "It needs to taste great and be more nutritious. That's really why Puris is growing faster than our peers. People love what they eat, and then great taste is the on-ramp to healthy habits -- and the flywheel for longevity begins."
GLP-1 users on Ozempic or similar therapies often face challenges like muscle loss during rapid weight reduction. High-quality plant-based proteins like pea protein help mitigate this by providing essential amino acids without the digestive issues some experience with dairy-based whey. Puris' non-GMO focus ensures clean, sustainable options that align with metabolic health goals.
The Family Roots: From Basement Breeding to Protein Powerhouse
It's taken 40 years for family-owned Puris to be primed for this moment. What started with breeding soybeans at night out of a family basement has become the largest pea protein manufacturer in America.
"You invest a lifetime on an idea, and when the idea starts to work, then it gets exciting," says the 40-year-old Lorenzen, whose parents started the company in 1985. "And then how do I do more?"
With $200 million in estimated annual revenue, family-run Puris has grown from filling a major void in the seed industry. Puris sells soy, corn, and pea seeds to hundreds of farmers in 20 states, who produce around 3 million bushels a year. Its seed breeding business is complemented by an ingredient-processing division that supplies pea protein and other ingredients to 200 major food brands, from America's largest private company Cargill to the buzzy startup Ritual. Lorenzen's older sister, Nicole Atchison, CEO of Puris Holdings, works with the farmers to make sure there are enough acres being grown, while he markets the protein to get it to buyers.
Jerry Lorenzen's Vision: Non-GMO Innovation in a GMO World
In the late 1970s, Jerry Lorenzen worked over a summer in high school for Pioneer -- the Iowa-based seed breeder now owned by publicly traded Corteva -- and decided he had to become a plant breeder himself. He stayed a hobbyist until in 1985 he decided to commercialize his own breeds. With two small children and $250 in the family bank account, he got to work, selling animal feed during the day and breeding soybeans at night and on weekends, often staying up until the wee hours in his garage tinkering.
He was smart to realize that there was too much competition for corn seeds, so he focused on soybeans instead. From the beginning, Jerry selected for high yields and high concentrations of protein. The first thing he spent money on was a computer he could write code on. He spent $50 and picked it up at KMart.
The early years of Puris were rough. Traditional breeding, without any bioengineering, doesn't start yielding returns for seven to ten years. But Jerry persisted, releasing his first variety in 1999, as he was mocked for his amateur strains -- it was the golden age of Monsanto and genetically modified breeding was creating seeds mainly for crops meant to become ethanol, industrial ingredients, or animal feeds. There were few seed breeders focusing on developing seeds for human consumption, let alone flavor.
Even after a few family interventions, Jerry Lorenzen remained one of the few breeders to never commingle his traditional breeds with ones bioengineered. "Our dad taught us long time ago, if you don't control your genes, you may lose your pants," jokes Lorenzen.
Being independent was crucial. If Lorenzen's father hadn't bootstrapped the operation in those early years, Puris probably wouldn't have been able to stay non-GMO completely. The business also likely wouldn't have been able to buy up a bunch of abandoned plants around the Midwest as manufacturing fled for cheaper costs in China -- which set up Puris to be 100% domestically manufactured today.
Explosive Growth Amid the GLP-1 Boom
Food businesses have been coming to Puris as consumers, especially weight loss drug users, seek more protein in everyday foods. According to data from Chicago-based Spins, products made with pea protein have been growing at 15% annually, which is around five times faster than average legacy food brands. The market for these foods is fast-growing. Some 12% of American adults, or roughly 31 million people, are estimated to be taking weight-loss drugs.
Why does this matter for GLP-1 users? Medications like Ozempic suppress appetite, making it harder to hit daily protein targets (often 1.2-2.0g per kg body weight recommended for those in weight loss). Pea protein offers a complete amino acid profile, high digestibility, and low allergenicity, making it ideal for integration into shakes, bars, and fortified foods without compromising taste or satiety.
Strategic Partnerships and Investments
Since 2018, a joint venture with Cargill that helped convert a former dairy plant into a 200,000-square-foot manufacturing facility in Dawson, Minnesota has poured over $100 million into the business. The Lorenzens still own the majority. According to Pitchbook, Puris has raised over $250 million in all, including minority equity investments and debt.
Forbes estimates that Puris is worth at least $400 million, and the Lorenzen family's stake is about half that.
