Two Unicep Packaging Inc. executives, Marcus Anderson and Clint Marshall, have bought the assets of the Sandpoint, Idaho-based contract packaging company from its founder John Snedden, and now are operating it as Unicep Packaging LLC, the company says.

The terms of the transaction weren't disclosed.

Anderson, Unicep's president, and Marshall, its chief financial officer, joined the executive management team five years ago with the intent to purchase the company under Snedden's succession plan, says Karla Horton, Unicep's marketing manager. The owners are former executives with Telect Inc., the Liberty Lake-based developer and manufacturer of communications networking equipment.

Unicep has expanded its services to provide packaging and formulation mixing for gels, liquids, lotions, and creams for the medical device, over-the-counter drug, veterinary, cosmetic, and personal-care markets. The company also has developed proprietary equipment and methods for producing its patented dose dispensers, Horton says.

Unicep employs 150 people. Its headquarters and manufacturing facilities occupy a total of 64,000 square feet of floor space in Sandpoint. The company also operates a 20,000-square-foot distribution center in Liberty Lake.