Company Name: Fancypants Baking Co.
Location: Walpole, Massachusetts
Year Founded: 2004
Website: fancypantsbakery.com
Fancypants Baking Co., based in Walpole, Massachusetts, has been honored as an Enduring Businesses in the 2024 CO—100 Awards. Celebrating two decades of success, this women-owned bakery has consistently grown and adapted to meet the demands of changing markets while staying committed to sustainability, innovation, and excellence.
From home-based baking to nationwide growth
Fancypants Baking Co. was founded in 2004 by Maura Duggan, who was inspired by childhood memories of baking with her grandmother. Starting as a home-based operation specializing in decorative cookies, Fancypants now operates out of a 25,000-square-foot facility to delight customers nationwide.
The company's journey is a testament to steady and sustainable growth through careful financial management and strategic decision-making.
"We have been rigid about making decisions that allow us to always maintain profitability and positive cash flow," said Duggan. "We invested in new equipment only when it provided an immediate increase in production abilities and/or efficiencies, hired employees in judicious ways, and focused on a set number of products so that we could excel in the category."
To ensure ongoing quality and profitability, Fancypants maintains full control of its operations, regularly evaluating its ingredients sourcing, cost of goods, inventory, employee hiring, and overhead.
We have been rigid about making decisions that allow us to always maintain profitability and positive cash flow. We invested in new equipment only when it provided an immediate increase in production abilities and/or efficiencies, hired employees in judicious ways, and focused on a set number of products so that we could excel in the category.
Maura Duggan, Co-Founder and CEO of Fancypants Baking Co.
A commitment to sustainability, innovation, and great taste
What exactly makes Fancypants' goods so tasty? According to Duggan, it comes down to premium ingredients: real butter, eggs, and flour, with no additives or preservatives.
"The cookies are also … Non-GMO Project Verified," she added. "It is common sense that delicious food is made using great ingredients, but it's surprisingly uncommon to find premium ingredients in the cookie category."
Fancypants was the first to partner with the 200-year-old King Arthur Baking Co., an employee-owned B-corp, for a co-branded product. This partnership further strengthened Fancypants' reputation for premium ingredients.
In addition to a focus on taste and ingredient quality, the company has implemented multiple sustainability initiatives that set it apart in the cookie industry. It not only uses upcycled oat flour in its cookies, but it is a zero-waste food brand.
"The brand is certified upcycled, we use recyclable packaging, and we have a partnership with Farm Powered, a company that turns our cookie crumbs into renewable energy," shared Duggan. "All of these attributes … excite consumers who are able to enjoy a delicious product while also creating a positive impact on the environment."
Adapting to change and building for the future
Over its 20-year history, Fancypants has demonstrated remarkable adaptability in response to external challenges, from economic downturns to the COVID-19 pandemic. During the pandemic, the company adjusted by staggering work hours and shifting operations to ensure employee safety and meet growing demand from online grocery platforms. This nimbleness allowed Fancypants not only to sustain operations but also to grow during a time of widespread uncertainty.
As part of its strategy for sustainable growth, Fancypants has diversified its business model. In addition to producing baked goods under its brand, the company co-manufactures products for other brands and retailers.
"We have worked with some of the largest grocery chains in the U.S., baking cookies for them. We also co-manufacture for smaller brands who do not want to take on the risks and expenses associated with running a factory," said Duggan. "These arrangements allow us to keep our employees working while diversifying our income streams."
In early 2024, Fancypants pivoted its primary offerings, launching a line of indulgent, crispy cookies with an elevated twist. While this marks a shift from the hand-decorated cookies the company was initially known for, it's poised the company for sustainable, profitable growth on a nationwide scale.
Through existing and new partnerships with companies like Faven Creative, Max + Co, Alliance Sales + Marketing, and Sarah Maguire PR, the company has already been able to launch the new product line in more than 2,500 locations.
"It’s been a busy, exciting year since we launched our CPG line," said Duggan. "In some ways I feel like I’m starting an entirely new business, but it also feels familiar because we’re doing what we do best – baking cookies! We are excited to keep the momentum going in 2025."
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