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 of annual sales revenue.

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

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

Smiths News CEO Mark Cashmore added: “Today’s announcement underlines the strength of our wholesale proposition and demonstrates the importance of our long term track record, on-going investment programmes and dedication to maintaining the highest levels of service excellence.”