Hellenic and Philip Morris reach distribution agreement

Gavin Lipsith

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Hellenic Duty Free Shops' distribution subsidiary is to promote and distribute the tobacco supplier's products on the Greek duty-free market

Hellenic Duty Free Shops has reached an agreement with Philip Morris International and Papastratos regarding the distribution and promotion of the suppliers' cigarettes through subsidiary Hellenic Distributions. In a statement the Greek travel retailer said that the agreement covered cigarettes traded to "ship chandlers, military forces and diplomatic shops and all types of vessels" on the Greek duty-free market. No further details were offered.

The announcement follows an earlier statement from Hellenic that it was in talks with PMI regarding a possible acquisition of Ioniki, the Papastratos distribution business inherited by Philip Morris when it acquired a controlling stake in the Greek supplier in late 2003.

Hellenic Distributions was formed in November 2000, its main activity being to operate duty-paid outlets on ships and in Greek ports. The company operates a strong logisitcal network, with its own fleet of trucks, a dedicated sales force and a central warehouse in Athens.

Keep an eye on RavenFox.com for more details as they emerge.