Wine-maker Pernod Ricard SA’s London office hit by cyber attack

Wine-maker Pernod Ricard SA’s London office hit by cyber attack

Pernod Ricard SA's London office hit by cyber attack

Pernod Ricard SA, the producer of Chivas Regal Scotch whiskey and Absolut vodka, was hit by a major cyber attack yesterday that disrupted the distillery's operations and resulted in its share prices falling by 2.1%.

Several UK employees of Pernod Ricard SA have had to turn in their computers for inspection following the cyber attack.

The London office of Pernod Ricard, the world's number 2 maker of wines and spirits, was hit by yesterday's cyber attack, disrupting operations. First revealed by Bloomberg, aside from the distiller's London office, the cyber attack may have targeted sites in other UK cities as well.

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Pernod Ricard is yet to release an official statement on the cyber attack and its true impact on the company's operations. However, it is believed that the cyber attack will not dent the company's sales for the financial year ending June 30 which the company will announce later this month.

Earlier this year, other international consumer goods companies like Beiersdorf AG and Reckitt Benckiser Group Plc were targeted by cyber attacks. While Beiersdorf AG, the maker of popular skin care products such as Nivea, Nivea Men, Eucerin, and Elastoplast announced losses of about 35 million euros due to IT disruptions, Reckitt Benckiser Group Plc, the maker of Durex condoms, suffered a loss of around 90 million pounds in the last financial year.

Government mulls fresh strategy to secure critical national infrastructure from cyber attacks

"Disruption of a similar magnitude would not have any material impact on our valuation of Pernod, assuming that the sales were recouped within a year," said Philip Gorham, director of equity research for Ibbotson Associates Japan.

We have reached out to Pernod Ricard SA for an official statement on the cyber attack, how many systems were affected and whether any customer data was lost as a result of the hack. We will update this article once we receive a response from them.

Copyright Lyonsdown Limited 2021

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