Colabor Group's Cybersecurity Incident Update and Impact
Update on Colabor Group’s Cybersecurity Incident
Colabor Group Inc. (“Colabor” or the “Company”) (TSX: CGL) is providing a significant update regarding a cybersecurity incident that recently affected its internal IT systems. After the occurrence, Colabor acted promptly and collaborated with top-notch cybersecurity experts to manage and investigate the situation.
Current Status of Operations
The incident has been effectively contained, and currently, most of Colabor’s systems are operational. The majority of the Company's business activities have returned to normal functionality. Nevertheless, due to the specialized nature of its food distribution services, a complete assessment of the incident's impact on operating revenues cannot yet be completed for the current quarter.
Financial Implications
Although a thorough analysis is still in progress, at this point, the Company does not expect the repercussions of this incident to substantially impact its operating revenues for the fiscal year. The investigation's outcomes and any potential financial implications will be communicated as they become clearer.
Investigation and Employee Safety Measures
The preliminary findings of the investigation suggest that there may have been a compromise of personal data belonging to some employees. Colabor is committed to keeping its workforce informed about these developments. In a proactive response, the Company will notify any individuals who might be affected by this incident. Additionally, as an extra precaution, Colabor is offering credit monitoring services for all employees.
Communication with Authorities
To maintain transparency and public safety, Colabor has informed both the relevant information access commission and law enforcement about the incident. The Company is diligently working to ensure that any necessary steps are taken to mitigate any future risks.
Leadership Response
In light of these events, Louis Frenette, President and Chief Executive Officer of Colabor, expressed appreciation for the tireless efforts displayed by employees and external cybersecurity professionals. He emphasized the significance of trust and collaboration, stating, “Thanks to the dedication of our employees and the support of our cybersecurity experts, we were able to quickly take action to contain the incident and restore our operations. This experience has made us more resilient and unified.”
About Colabor Group Inc.
Colabor is a well-respected distributor and wholesaler of food products, catering to various markets including hotels, restaurants, and institutions, particularly in Quebec and the Atlantic provinces. The Company offers a plethora of specialty food items such as seafood and meat through its broadline activities, ensuring quality service across different sectors.
Further Information
Contact:
Pascal Rodier
General Counsel and Corporate Secretary
Colabor Group Inc.
Tel.: 450-449-4911 ext. 1312
Email: investors@colabor.com
Danielle Ste-Marie
Ste-Marie Strategy and Communications Inc.
Investor Relations
Tel.: 450-449-0026 ext. 1180
Frequently Asked Questions
What was the cybersecurity incident involving Colabor Group?
The incident affected the company’s internal IT systems, prompting them to engage cybersecurity experts for investigation and containment.
What measures is Colabor taking to protect employees?
Colabor is offering credit monitoring services to all employees and has contacted those potentially affected by the breach.
Will the incident impact Colabor’s financial performance?
As of now, Colabor does not foresee significant impacts on its operating revenues for the 2025 fiscal year, though assessments are ongoing.
How is Colabor addressing the situation?
The company is working closely with authorities and cybersecurity experts to mitigate risks and restore operations fully.
Who can I contact for more information about the incident?
For inquiries, you can reach Pascal Rodier at 450-449-4911 ext. 1312 or email investors@colabor.com.
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