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1
Preheat the oven to 250 degrees.
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2
Grease two large rimmed baking sheets and set aside.
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3
Pop the popcorn kernels, in shifts if needed to ensure your popcorn popper doesnt burn the popcorn, and place the popcorn in a large bowl, sifting through to remove the unpopped kernels.
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4
In a large saucepan over medium heat, melt the butter.
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5
When melted add the brown sugar, corn syrup, and salt.
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6
Bring to a boil while stirring.
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7
Once the mixture starts boiling, reduce the heat to medium-low and simmer, stirring often, for 3 minutes.
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8
The mixture will be slightly thickened.
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9
Take the pot off the heat and stir in the vanilla and baking soda.
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10
The mixture will bubble so be careful.
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11
Pour the caramel over the popcorn and mix slightly.
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12
Add the peanuts and mix well but gently (so you dont break apart the popcorn) until the popcorn is evenly coated and the peanuts are distributed through the mixture.
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13
Turn the popcorn out onto the baking sheets, spreading into an even layer.
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14
Bake the popcorn for one hour, stirring and tossing every 20 minutes.
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15
Move the bottom tray to the upper rack and vice versa each time you stir.
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16
The popcorn will deepen in color and harden a bit as the caramel bakes and sets.
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17
Cool the popcorn to room temperature.
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18
Store in an airtight container.
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19
Ive found the popcorn will keep, stored tightly, for 1-2 weeks.
