Austin-based Hormel Foods is buying Columbus Manufacturing, a deli meat company, for 850 million dollars — its largest acquisition ever and third this year. Hormel President and C-E-O Jim Snee says, “This acquisition deepens our presence in the deli, which is an advantaged part of today’s retail grocery store and one of the fastest-growing segments at retail.” Snee says over the past few years, Columbus has consistently exceeded Hormel’s growth goal of five percent. He adds, “I can’t think of a better company that aligns to our heritage, values and purpose than Columbus.” Executives say Columbus will continue operating from California.