Have you ever stopped mid-bite at Nando’s and wondered, who actually owns this place? You’d think the answer might be straightforward—either a famous founder still in charge or some faceless corporation on the stock market. The truth, though, is a little messier.
Nando’s is a private business, largely steered by the Enthoven family of South Africa. The founders, Fernando Duarte and Robert Brozin, did spark the whole thing back in the late 1980s, but it was the Enthovens who quietly transformed a small neighbourhood chicken shop into a global chain.
The Founding of Nando’s: A Story of Two Friends
The story starts in 1987 in Rosettenville, Johannesburg, when Duarte and Brozin ate at a Portuguese takeaway called Chickenland.
They were so taken by the spicy, flame-grilled chicken that they bought the place on the spot. They renamed it Nando’s – after Duarte’s son – and started expanding. But passion and a good marinade only go so far. Scaling up required serious money and business know-how, which is where the Enthovens entered the picture.
The Enthoven Family Steps In
By the early ’90s, the Enthovens, a wealthy but publicity-shy family empire led by Richard “Dick” Enthoven, invested through their firm Yellowwoods. That move changed everything. The family provided capital but, perhaps more importantly, patience. Unlike private equity firms that push for quick turnarounds, the Enthovens preferred to let the brand develop at its own pace.
Their involvement also explains why the ownership of Nando’s isn’t fully transparent—you won’t find annual reports filed on a stock exchange. Yellowwoods is private, much like the family itself. (For context, they also control Hollard Insurance, another heavyweight in South African business.)
How Nando’s Conquered the UK Market
If Nando’s had stayed in South Africa, it might still just be a cult local chain. The UK is where things really took off, largely thanks to Dick Enthoven’s son, Robby. In the early ’90s, the British arm was struggling. Robby reimagined the whole model: not quite fast food, not quite full-service dining. Customers ordered at the counter, but the vibe was warm, quirky, and unmistakably different from McDonald’s or Pizza Hut. That hybrid approach—fast casual before it became a buzzword—turned out to be the perfect fit for British diners. Today, the UK is Nando’s crown jewel, with hundreds of restaurants serving millions every year.
Nando’s Ownership Structure: A Private Family Business
Nando’s remains privately held:
- The Enthoven family hold the majority stake through Yellowwoods and shape long-term strategy.
- The founders, Duarte and Brozin, still keep a slice of ownership, which signals they’re not entirely out of the picture.
That structure has its perks. Without quarterly earnings calls or restless shareholders, Nando’s can play the long game—focusing on consistency, culture, and brand personality rather than chasing short-term wins.
Why the Ownership of Nando’s is So Important
Some might shrug and say, “Does it really matter who owns Nando’s?” But ownership does shape how a company behaves. Because the Enthovens aren’t under pressure from Wall Street (or the JSE, for that matter), Nando’s has been able to protect its cheeky branding and laid-back culture. Whether you see that as good stewardship or just smart business depends on your perspective.
Final Thoughts
So yes, Nando’s was born from the spark of two friends who fell for a Portuguese chicken recipe. But its global success owes just as much to the quiet backing of a powerful family who preferred patience over flash. It’s an odd mix: entrepreneurial hustle meets dynastic capital. And somehow, out of that unlikely partnership, we got a restaurant chain that’s become as much a part of British culture as Sunday roasts or Greggs sausage rolls.