Former owner Mission Mars said acquisition terms included the retention of all team members and that the venues would operate in a similar way under new ownership.
Founder of Tokyo Industries Aaron Mellor said: “These are extremely difficult times for all grassroots music venues around the UK.
"It's vital venues like Gorilla and The Deaf Institute are kept alive, the cultural fabric of our city centres depends on venues like these."
Mellor added that he was working with sector figures to keep music venues afloat and maintain the experience for gig-goers in a “post Covid world.”
“We’re not so keen on this ‘new’ normal and want to keep the ‘old’ normal alive for when we all get through this," he said.
Perfect new home
Mission Mars chief executive Roy Ellis said the initial decision to close was “made against the backdrop of Covid-19” given the months of enforced closure and future restrictions on indoor music performances. On announcing the decision, he appealed for other businesses to get in touch if they would like to take over the sites.
Reacting to the acquisition news, Ellis said: “It’s really great news for our teams and the music loving people of Manchester that both venues have found such a perfect new home.
“The bad news announcement last week regarding the closure plans galvanised an unprecedented level of interest from passionate operators from across the region and even beyond.
“I’m extremely grateful that we’ve been able to find a new and appropriate new home for these amazing venues and people.”