January 2007: Ring's Acquisition
BRUNSWICK, Maine – January 4, 2007 – Downeast Energy announced today that it has completed its purchase of Yarmouth-based Ring’s Coal Co., Inc., and plans immediately to begin servicing Ring’s customers honoring all pricing, oil contracts and service policies. “Ring’s is an excellent addition to our growing family,” said John Peters, President, Downeast Energy. “We’ve been neighbors for years, so customers are familiar with us, and we’re already right in their neighborhood with a brand new storage facility.” “It’s a very smooth transition for everyone,” said Ring’s President, Gerald J. “Jerry” Sullivan. “I am pleased for our customers’ sake that they will be serviced by another locally owned and operated company with a well-established reputation, a full product line and service department. Ring’s has been selling coal and oil for 15 years, and will continue to sell coal for the remainder of the winter. Downeast Energy was established in 1931 by Allen Morrell, who sold coal, firewood, building supplies and later, heating oil and propane under the original name, Brunswick Coal & Lumber. Bob and Dick Morrell joined their father in the 1950’s and continue in the business to this day. Four of their children hold senior management positions within the company, which received a 2006 Gannett Family Business of the Year Award. Downeast Energy is a third generation, family-owned enterprise with 13 offices in southern and central Maine and Dover, NH. For more information, please visit downeastenergy.com