Line a baking sheet with parchment paper. Lightly coat a wooden or other large spoon with cooking spray.
In a large bowl, combine the popcorn and peanuts. Set aside.
In a medium saucepan over medium heat, melt the butter. Add brown sugar, corn syrup and molasses. Bring to a boil and cook, without stirring, until the mixture reads 300 degrees on a candy thermometer.
Pour the syrup over the popcorn and peanuts, using the prepared spoon to toss the mixture until evenly coated. Transfer the mixture to the prepared baking sheet in an oven layer.
Let the popcorn cool, then break into small chuncks.