This article deals with the topic of re-entry of family members to their original family business. The re-entry is defined in the article as the decision of the family to re-invest in the originally founded company and re-acquire the ownership of a previously left business. In particular, the paper advances the idea that psychological ownership is the main rationale behind the decision to re-entry in the company. The paper presents two exploratory case studies of Italian family firms. It identifies antecedents (local embeddedness and eponymy) and catalysts (economic distress and family values at risk) of psychological ownership. The article emphasizes the reasons that explain the maintenance of this state of involvement even after the exit from the company and how they may explain the re-entry. A key issue considered regards the knowledge about the company that is shared and individually perceived by the family members during the period of separation from the company.