HERZLIYA, Israel, Dec. 09, 2015 (GLOBE NEWSWIRE) -- Frutarom Industries Ltd. (" Frutarom "), one of the world's 10 largest companies in the field of flavors and specialty fine ingredients, continues implementing its rapid and profitable growth strategy and announces today its acquisition of 100% of the share capital of the Hong Kong based companies Inventive Technology Ltd. and Prowin International Ltd. (hereinafter collectively " Inventive ") for USD 17 million. The purchase agreement includes a mechanism for future consideration conditional on the company's business performance over the three year period following the acquisition. The transaction was financed using bank debt.