Ranjit Singh, chief executive of the food group, said: "We are delighted to be acquiring Vion UK's poultry and red meat businesses. They have faced significant uncertainty and tough trading in recent months but today's acquisition secures a viable future.
"This acquisition will safeguard a key supply chain for high-quality British poultry and meat, offering reassurance to farmers in England, Scotland and Wales and upholding the quality and provenance that UK customers and consumers deserve.
"We look forward to welcoming Vion colleagues to 2 Sisters Food Group and to working together to grow our business."
The Vion-operated Halls of Broxburn sausage factory closed last month with 1,700 workers losing their jobs. The Dutch firm said it wants to concentrate on its business in the Netherlands and Germany.
Peter Barr, chairman of Vion UK, said: "We are pleased to have reached such a positive conclusion to our discussions with 2 Sisters, one of the food sector's most successful and respected businesses."