Morrisons moved in to buy the convenience retail chain shortly after the business went into administration.
They form part of a UK-wide chain of 1100 outlets employing 16,000 staff.
The business’ collapse had sparked fears for the future of local jobs and more empty shops in our towns.
But PwC, joint administrators, confirmed it had been bought by Alliance Property Holdings Limited, part of the Morrisons Group, the group's largest supplier.
It said the deal successfully transferred all employees and shops, and included agreement to rescue the group's two pension schemes with more than 2,000 members.
They won the race to buy McColl’s ahead of petrol station powerhouse EG Group.
Trade union Usdaw, welcomed the move but sought assurances for staff.
And it wants trade union recognition for them.
Joanne McGuinness, Usdaw National Officer said: “It is great news that Morrisons has been successful in their bid to buy McColl’s out of administration and it will be a huge relief for the staff.
"We are now seeking urgent discussions with Morrisons to help secure the future for the staff.
“McColl’s was a non-unionised business, which meant their staff had no real voice in the future of the business. Usdaw has a long-standing and productive relationship with Morrisons and we will be looking to extend trade union representation to all staff in McColl’s.”