Hormel Foods Corp. has raised its guidance following the closing of its purchase of a leading deli meat supplier.

Austin, Minnesota-based Hormel now projects Fiscal 2018 sales of $10.1 billion, up from an earlier estimate of $9.7 billion. The company also raised its earnings per share projection to $1.62-1.72.

Hormel is paying $850 million for Columbus, which makes premium deli meats and salami under the Columbus Craft Meats banner. Columbus’ annual sales total about $300 million, and the company’s expected growth rate is greater than 5 percent.   

Hormel’s other deli meat brands include Hormel, Jennie-O, Applegate and DiLusso.