food and beverage Archives - Tech | Business | Economy https://techeconomy.ng/tag/food-and-beverage/ Tech | Business | Economy Fri, 17 Jul 2026 09:40:34 +0000 en-GB hourly 1 https://wordpress.org/?v=7.0.2 https://techeconomy.ng/wp-content/uploads/2026/02/cropped-techeconomy-logo-32x32.jpeg food and beverage Archives - Tech | Business | Economy https://techeconomy.ng/tag/food-and-beverage/ 32 32 199702177 Coca-Cola Suspends Fairlife U.S. Production After Ransomware Attack https://techeconomy.ng/coca-cola-suspends-fairlife-us-production-ransomware-attack/ https://techeconomy.ng/coca-cola-suspends-fairlife-us-production-ransomware-attack/#respond Fri, 17 Jul 2026 09:40:34 +0000 https://techeconomy.ng/?p=185513 Coca-Cola has temporarily suspended Fairlife production across the United States after a ransomware attack disrupted its production systems.

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Coca-Cola has temporarily suspended production at its Fairlife dairy business in the United States after a ransomware attack affected the company’s production systems.

The beverage giant disclosed the incident in a Form 8-K filed with the U.S. Securities and Exchange Commission (SEC) on July 16, 2026. While production has stopped at Fairlife’s U.S. facilities, the company said its Canadian operations continue to run normally.

Coca-Cola also assured customers that the cyberattack has not affected the safety or quality of its products.

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,” the company said.

Following the attack, Coca-Cola said it activated its incident response and business continuity plans, engaged external cybersecurity experts and other advisers, and notified law enforcement agencies.

The company, however, said it is still investigating the incident and has not determined its full impact.

The full scope, nature and impacts of the incident are not yet known. Accordingly, the Company has not yet determined whether the incident is reasonably likely to materially affect the Company.”

Coca-Cola did not say when production would resume. It also did not disclose whether any data was stolen or whether the attackers demanded a ransom. As of the time of reporting, no ransomware group had claimed responsibility for the attack.

Fairlife is one of Coca-Cola’s fastest-growing dairy brands. The company generated an estimated $4 billion in sales in 2024 from products including ultra-filtered milk, Core Power protein shakes and nutrition drinks.

The shutdown could affect product availability across the United States if production remains suspended for an extended period.

Beyond the current incident, ransomware attacks have been targeting food and beverage companies recently. Arizona Beverages suffered production disruptions after a ransomware attack in 2019, while food distributor UNFI experienced prolonged outages and supply chain disruption following a cyberattack last year.

The latest attack also comes months after Coca-Cola announced a $650 million expansion of its Fairlife production facility in Michigan to increase manufacturing capacity.

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Business Interruption Tops Allianz Risk Barometer for Food and Beverage sector in 2024 https://techeconomy.ng/business-interruption-tops-allianz-risk-barometer-for-food-and-beverage-sector-in-2024/ https://techeconomy.ng/business-interruption-tops-allianz-risk-barometer-for-food-and-beverage-sector-in-2024/#comments Mon, 20 May 2024 10:43:37 +0000 https://techeconomy.ng/?p=131794 IN THIS REPORT: Business interruption is the top risk in the sector with 53% of responses. Cyber incidents is second with 36% of responses Energy crisis and Product recall, quality management, serial defects are joined fourth with 19% of responses. Companies need to address these risks to enhance their operational resilience and ensure a sustainable […]

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IN THIS REPORT:

  • Business interruption is the top risk in the sector with 53% of responses.
  • Cyber incidents is second with 36% of responses
  • Energy crisis and Product recall, quality management, serial defects are joined fourth with 19% of responses.
  • Companies need to address these risks to enhance their operational resilience and ensure a sustainable future.

The food and beverage industry is facing significant challenges in 2024, with Business interruption emerging as the primary concern, according to the Allianz Risk Barometer.

Business Risks by Alliaz
Source: Allianz Risk Barometer 

The report, based on insights from over 3,000 risk management professionals and business leaders, highlights the urgent need for proactive risk management and resilience-building efforts to ensure business continuity and safeguard against potential disruptions.

The Allianz Risk Barometer reveals that business interruption is the top risk faced by the food and beverage sector, with 53% of respondents identifying it as their primary concern.

This is followed by Cyber incidents at 36%, Climate change at 21%, and Energy crisis and Product recall/quality management/serial defects, both at 19%.

These risks pose significant threats to the industry’s operations, financial stability, and brand reputation.

The food and beverage industry is particularly vulnerable to business interruption risks due to supply chain disruptions, natural disasters, and public health crises.

To address these challenges, the report emphasizes the importance of robust contingency plans, diversified sourcing, and strong supplier relationships.

Real-time monitoring technology and alternative distribution channels are recommended to effectively manage and mitigate disruptions.

Cyber incidents are also a growing concern for the industry as digitalization and connectivity become integral to operations.

The report underscores the need for cybersecurity measures, including encryption and employee training, to safeguard sensitive data and intellectual property in an increasingly digital landscape.

Climate change poses disruptions in agricultural supply chains, extreme weather events affecting crop yields, and changes in consumer preferences towards sustainable products.

To adapt to these challenges, reports suggest adopting sustainable practices such as precision farming and collaborating with suppliers to reduce carbon emissions.

The industry’s reliance on energy-intensive operations such as processing, packaging, and transportation exposes it to energy crisis risks.

Reports highlight the importance of energy efficiency initiatives, including the adoption of renewable energy and optimization of transportation routes, to mitigate these risks.

Product recall, quality management, and serial defects also pose significant risks to the industry, leading to financial losses and damage to brand reputation.

Reports emphasize the need for rigorous quality control measures throughout the production process, coupled with advanced technologies for traceability and recall procedures, to ensure product safety and integrity.

Overall, the Allianz Risk Barometer stresses the importance of proactive risk management, resilience-building efforts, and sustainability integration for the long-term viability of food and beverage businesses amidst evolving challenges.

By addressing these risks head-on and implementing the recommended mitigation strategies, companies in the industry can enhance their operational resilience and ensure a sustainable future.

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