In 1931, Allen Morrell bought the Brunswick Coal company, and expanded the business to include heating oil, propane and building materials. Since then, two of his children, Bob and Dick Morrell, and four members of the next generation have joined the company. Over the years, Downeast expanded through growth and acquisition of other small companies. The company recently sold the successful Puffin Stop division, which was developed from a wholesale gas distributorship into a chain of full service convenience stores.

Because the different names of the local heating service companies that were part of the "Good Friends Downeast” family became confusing for the customers, in 1998 Downeast Energy became the single name for all the heating locations and the gasoline division, with Downeast Building Supply the name for the building materials store.

Downeast and its employees have a long history of giving to community efforts. The company motto, “Because community is our bottom line,” means that Downeast supports projects that benefit its employees, their families, and their communities. Community initiatives include sponsorship of annual events and ongoing support of several specific organizations.