Wasabröd was founded in Skellefteå in 1919 by baker Karl Edvard Lundström under the name AB Skellefteå Spisbrödsfabrik. In 1931, the company moved to Filipstad because he could not agree with Skellefteå municipality on additional land to expand the factory. In 1933, the experiments with conveyor belt baked bread were successful when Karl Edvard Lundström developed Wasa Husman, which became a sales success throughout Sweden. The company became a royal court supplier in the same decade. 

The name is taken from King Gustav Vasa, whose image used to adorn the bread packages.