Another major company has been the victim of a cyber attack that has caused major disruptions to its business operations. In a filing with the SEC, Chicago-based beer and beverage company Molson Coors recently acknowledged that they experienced a system outage due to "a cybersecurity incident."
While the multinational brewery has been quiet about the details of the attack so far, they noted that it caused widespread problems in disparate parts of the business, including the brewery's operations, production and shipments. At the presentation, Molson-Coors said it is actively managing the situation and "working around the clock" to get its systems back up and running as quickly as possible.
Given the recent high-profile attacks against other major companies, such as Kia Motors and packaging giant WestRock, many security experts have speculated that it could be a ransomware attack. Adult beverage companies have been directly targeted in the last year, with Jack Daniel's owner Brown-Forman, Australian Lion and Italian Licya Campari Group all coming under attack, according to Forbes.
Either way, the downtime caused by systems shutdown could represent a significant cost to Molson Coors. That is often the point with these types of cyberattacks. To remediate major attacks like this one, companies must spend resources to make discoveries and mitigate any damage. For food and beverage manufacturers, who often operate their plants 24/7, shutting down systems for any length of time can be a considerable waste.
"One of the big concerns I have for the industry as a whole is the financial drag it takes just to play games, just to be diligent and respond to these attacks," said Tyler Whitaker, CTO and COO of Leading2Lean, partner. of content of CFE Media. "That's a huge economic impact for these attacks that I think is probably shelving a bit under the radar."
Molson Coors is responsible for many beer brands, including Coors Light, Miller Lite, and Blue Moon. While the company stated that it has returned to near-normal operations, both production and shipments could be delayed in the coming months.