Newspaper and magazine wholesalers Menzies Distribution and Smiths News have both extended their contracts with magazine distributor Marketforce.

Menzies said its new contract would run from January 2015 for five years, securing £122m in annual sales.

“This is testimony to our drive to deliver the high service levels demanded by our customers,” said Menzies Distribution MD David McIntosh.

Smiths News, which also netted an extended contract with publisher IPC Media, said the five-year extension secured it £154m a year.

“This underlines the strength of our wholesale proposition,” added CEO Mark Cashmore.