Scottish food firm Browns Food Group has purchased the Hall's brand from Dutch group Vion.
Browns said the move "effectively merged" two of Scotland's "oldest family-owned food businesses".
"We are very pleased to have secured the future of one of Scotland's best known brands, and to have brought it safely under private Scottish ownership," Browns FD Alan Hill commented.
The purchase does not include Hall's production facilities in Broxburn, which will remain shuttered. However, 50 jobs will be retained, the company said.
Vion announced last October that it planned to close the Hall's production facility because it was unable to find a "sustainable alternative". The Dutch meat group later revealed that it will exit the UK and began looking for buyers for its interests in the country.