USA – The Coca-Cola Company has announced that its dairy subsidiary Fairlife has resumed most production across its four US facilities following a ransomware attack.
Fairlife temporarily suspended US production earlier this month after a ransomware attack affected part of its systems. Coca-Cola has now confirmed that an unauthorised third party also obtained certain data during the incident.
The company reported that investigation and assessment of the incident’s impact are ongoing, with assistance from external advisors and cybersecurity experts.
The company has also notified law enforcement. The full scope, nature and impacts of the incident are not yet known.
Product quality and safety have not been impacted. However, as a result of the incident, production operations at Fairlife in the United States are temporarily suspended. Fairlife’s Canada production operations are not currently impacted.
Fairlife is a popular brand in health and fitness circles. Their milk products are filtered, allowing more protein per serving. Their Core Power protein shake is commonly found in supermarkets, convenience stores, and supplement shops.
Coca-Cola said retail availability of Fairlife products has been largely unaffected due to existing inventory levels. It added that the incident has not affected product quality or safety.
Based on the information currently available, the beverage group does not expect the attack to have a material impact on its financial position or operating results.
Coca-Cola’s US$7B Fairlife investment thrives as consumer trends evolve
Coca-Cola’s expansion beyond soda is gaining momentum through its US$7 billion investment in Fairlife milk, which has become the company’s fastest-growing U.S. brand.
A report by Bloomberg indicated that the ultra-filtered milk, known for its high protein content and lactose-free formula, has seen retail sales surge from an estimated US$90 million in 2015 to over US$1 billion in 2022.
Despite this success, Wall Street remains unconvinced, with Coca-Cola’s overall revenue still heavily reliant on soda sales, which account for about 60% of the company’s total earnings.
Coca-Cola Chief Executive Officer James Quincey emphasized the significance of Fairlife in the company’s strategy to diversify beyond sugary beverages.
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