Smiths News secures agreement with Marketforce
Smiths News agrees new five year contract extension with both Marketforce (UK) Limited and IPC Media Limited.
The new contact secures c£154m of magazine distribution business. ‘Smiths News, the largest UK newspaper and magazine wholesaler is pleased to announce it has reached agreement with Marketforce (UK) Limited and IPC Media Limited to extend their magazine wholesaling agreement until the end of 2019.
This new agreement secures Smiths News 55% market share of both Marketforce and IPC’s portfolio of independent magazine publishers’ existing magazine distribution business for an additional five years.
The extended agreement will secure c.£154m pa (at FY12 values) of magazine distribution equating to 27.5% of the magazine market including titles such as Whats on TV, Ideal Home, Marie Claire and Look.
Mark Cashmore, Chief Executive Officer, commented "We are delighted to be extending our relationship with Marketforce and IPC, which further endorses our newspaper and magazine wholesaling model and reinforces our market leading position."
"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.”
"We are delighted to be extending our relationship with Marketforce and IPC."