Freed's Bakery was founded in 1921 as a retail bakery in downtown Manchester, New Hampshire. In 1976, it was purchased by, Brian Streeter, who was soon joined by his brothers, Jack and Phil, and his wife Judy. They operated Freed's strictly as a retail bakery until 1985. At that time, recognizing the growing popularity of in-store bakeries, they began supplying local supermarkets with a few select items. This service quickly expanded, and within just a few years, Freed's products were being sold in most major supermarkets in New England.

With this growth came the need for a production facility devoted to Freed's wholesale business, as the focus of Freed's shifted to the efficient production and distribution of a quality "Thaw and Sell" cupcake. To this end, construction was completed in December of 1996 on a state-of-the-art wholesale production facility in Manchester. Freed's has grown to be the largest supplier of iced and decorated cupcakes to the in-store bakery industry, with customers and distributors from coast to coast.

In January of 2001, Freed's was purchased by Keystone Capital of Illinois and became part of Keystone Bakery Holdings. In July of 2006, Granny's Kitchens was also purchased by Keystone to join Freed's as a new Keystone Bakery company.

The current management team includes Kevin McDonough, President, Ed Cassidy, VP Sales and Marketing, Phil Streeter, VP of Operations, and Dave Ivey, VP Finance. While still a rapidly growing company, Freed's continues to be a management-owned and operated business, priding itself on quality, value, and customer service.