Novozymes Agrees to Buy Chr. Hansen in $12.3 Billion Deal (3)

Novozymes A/S, the world’s largest maker of industrial enzymes, agreed to buy another Danish firm, Chr. Hansen Holding A/S, for about 87.1 billion kronor ($12.3 billion) in stock to gain probiotic cultures and expand in the growing market for food and nutrition.

The transaction values Chr. Hansen shares at 660.55 kronor per share, reflecting a premium of 49%, the companies said Monday.

Chr. Hansen brings natural ingredients used in cheese, yogurts and other foods, allowing Novozymes to expand its business serving consumers. The smaller company’s probiotics are fed to cows to produce more milk and taken by ...