Nando's is privately owned by the Enthoven family of South Africa. The peri-peri chain was wholly owned by the late Dick Enthoven until his death in December 2022, and remains a private family business run by his family 1 — the same family behind the Hollard insurance group and Spier wine estate 2.
There is no listing, no private-equity owner, no foreign conglomerate on the cap table. Nando's grew from a single Johannesburg outlet into a chain across the UK, US, Australia and beyond while staying a privately held, family-owned business 2. And the family business is thriving: Nando's grew group revenues 8% to £1.48bn in the year to February 2025, with operating profit more than doubling to £146.6m 3 — the value of that growth accruing to a South African family, not a foreign shareholder.
That makes it a rare thing on this desk: an African brand that went genuinely global and kept its ownership — and its upside — African. Set against the cognac economy or the beauty brands that sold to multinationals, Nando's is the counter-example — authorship and ownership held together, for decades. See where the value goes across African brands in Who's Buying Africa.