McCormick & Co. has agreed to buy Texas-based One World Foods Inc., seller of Stubb’s barbecue sauces, for $100 million in cash in a bid to expand its line of grilling products.

The deal isn’t expected to affect McCormick’s earnings in 2015, though the Maryland-based spice company expects it to add Ebitda of at least $10 million by 2017.

Chief...