ACACIA College has been sold to the Seventh-day Adventist Church.
Adventist Schools Victoria said the Mernda site would become a campus of its existing Gilson College and be run by the principal, Mark Vodell.
The Uniting Church Synod of Victoria and Tasmania sold the site last week after announcing in October it was closing Acacia because of crippling debts.
At the time Acacia had 520 students from prep to year 9. Many parents have enrolled their children in alternative schools.
SEE: Acacia College closure to hit 520 students