the barrels seen in general stores at the time. Pick-A-Mix brought the dying traditional method of buying candy at the local corner or general store into the era of the modern supermarket. In 1966, American Home Products Corporation purchased the company. In 1986, the last year of ownership by American Home Products, it accounted for two-thirds of the U.S. market for bagged candy and 7% of the $9 billion U.S. candy market. It employed 3,700 and had an estimated pretax profit of more than $75 million on sales of $640 million. In 1987, Klaus Jacobs purchased the company for $730 million, and by the end of 1989, it was in serious trouble. Losses that year were an estimated $50 million and sales had decreased to $470 million. By 1993, sales had dropped to $400 million though losses were reduced somewhat to $26 million. All this occurred during a period when overall per capita candy consumption in the U.S. had increased 25%. By May, 1994, Brach's moved its headquarters from the plant property to a penthouse office in one of Chicago's wealthiest suburbs, saw a loss of nearly 900 jobs (42% of the workforce at that time), and suffered a loss of key customers and market share. Jacobs almost immediately fired Brach's top officers and gutted the leadership of its sales, marketing, production, and finance departments. Some of these positions were filled with executives from Suchard's European people with little experience in the candy industry. Former executives cited Jacobs's autocratic management style at Suchard and his inability to recognize the difference between American and European candy consumption habits. The name of the company was changed to Jacobs Suchard Inc., a name few retailers or consumers recognized, and product lines were trimmed from 1,700 to 400 in an attempt to cut costs. This alienated many of its largest customers, including Walgreens and Walmart, who found other sources, including Farley Candy. In addition to the cuts in product selection, Brach's also curtailed holiday promotional activities. In 1990, Phillip Morris purchased Jacobs Suchard for $3.8 billion, except for its U.S. subsidiary. A holding company named Van Houten & Zoon Holding AG was formed by Klaus Jacobs to run Brach's and other businesses. Disagreements with Klaus Jacobs on marketing and management strategies continued, particularly over commodity vs. branded (Brach's) products. In 1993 alone, Brach's saw three different CEO's, and continued to experience a high rate