Aug 21 (Reuters) - McCormick ( MKC ) said on Thursday it will

raise its stake in its Mexico joint venture to 75% by acquiring

25% more for $750 million as the condiments maker seeks to

expand further in Latin America.

Founded in 1947, the joint venture with Mexican food

processing company Grupo Herdez has been a dominant

player in the condiments and sauces segment of Latin America's

second-largest economy.

McCormick ( MKC ) de Mexico's portfolio consists primarily of

mayonnaise, including its flagship McCormick Mayonesa con Jugo

de Limones brand.

The deal is subject to customary closing and regulatory

conditions, McCormick ( MKC ) said.