Angela Mehegan, who owns Cheeky Monkees Nursery in Redcar, Teesside, heard that the nursery she went to as a child in Stockton, Cleveland, was up for sale by Just Learning.
Weak demand for places was cited by Just Learning as the reason it closed the nursery earlier this year.
Ms Mehegan said, 'I was looking in the local paper and saw an article about the closure of the nursery. My husband called Just Learning and was told that they were planning to sell the building and there was a high chance it would be developed into flats.
'The nursery meant so much to me as a child, and also we are always on the look-out for more nurseries.'
The new setting, Cheeky Monkees in Stockton, opened a fortnight ago. It is registered for 59 places and offers full daycare for children from six weeks, as well as an after-school club.
Ms Mehegan said she had decided to run the nursery in the same way as the her other setting in Redcar for the sake of continuity and to create a brand.
She said, 'We don't want people to think of the setting as the old Just Learning nursery. We have got to earn people's trust and respect and to show that we are a good local childcare provider.'
Ms Mehegan, a trained nurse, opened her first setting in Redcar in 2004 after her and her husband had struggled to find flexible childcare.
The nursery has 50 places with 129 children on register, and offers a breakfast and after-school club. The setting employs 19 staff, including a nursery manager with EYP status.