Princes has sold the canned pie maker Fray Bentos to the Scottish soup group, Baxters.
The Office of Fair Trading had objected to Princes buying the brand as part of its acquisition of Premier Foods' canned food business earlier this summer.
Baxters' chairman, Audrey Baxter, said: "Like Baxters, Fray Bentos is a heritage brand and is known the length and breadth of the country holding a special place in the hearts of British consumers both young and old. We have many exciting ideas to revitalise the brand."
Fray Bentos was set up in 1899 in the town of Fray Bentos, Uruguay by Justus Liebig, who also invented Oxo beef extract. The first Fray Bentos product was corned beef.