(basically copy the options from Merge Rasters in ArcMap)
Add min,max,mean and blend as merge options to RasterMosaicker
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This is in FME 2017 beta now. @jdh -- I think you'd wanted this so please do advise if it meets your needs.
Been wanting this for a while so looking forward to checking out the Beta! Would love to see a Principle Component Analysis, Maximum Likelihood Classification and a Krigging transformer as well. Be really useful to be able to do advanced raster analysis and spatial stats straight in FME.
This has been released as part of FME 2017.0 . Visit http://www.safe.com/downloads to download it and give it a spin.