Family Business, or small-holding is a unique form of organization. Existing in the whole world, it generates income and jobs besides significantly moving the economy in several countries. In Brazil, the family business companies have been largely struck by the economic changes in the 1990's, besides facing problems inherent to the relations between business and family, noticeably in the succession aspect. This piece of work was carried out seeking to empirically understanding the mechanism and peculiarities as for the successory process in such enterprises, the relation between business and family. For such purpose, surveys were carried out with all the partners of a family dairy-related company in the south of Minas Gerais, which is presently run by its second generation. The data analyses were descriptive/analytical while the information collected were adapted to theorical models referring to family business and their successory process. It was possible to conclude that the analyzed company really fits several theorical features presented in the literature on the theme and points out ways to overcome some of the commonly found problems.