Major Brewer, Molson Coors, Hit By Cyberattack Costing Millions

On March 11, 2021, Molson Coors Beverage Company (the “Company”) announced that it experienced a systems outage that was caused by a cybersecurity incident. Production was reportedly halted up to one week at some plants. The Company has engaged leading forensic information technology firms and legal counsel to assist the Company’s investigation into the incident. This cybersecurity incident has caused and may continue to cause a delay or disruption to parts of the Company’s business, including its brewery operations, production, and shipments.

Update: Production of 1.8 million hectolitres delayed from Q1 to later in the year, delaying 120-140 m$ earnings to later in the year.

Estimated Cost

120-140 m$ earnings delayed to later in the year.

Threat Source

Impacts

OT