Easy Caramel Popcorn

• 1 pkg. (11 oz.) KRAFT Caramels
• 3 Tbsp. butter or margarine
• 1 Tbsp. water
• 10 cups air-popped popcorn
• 1 cup PLANTERS COCKTAIL Peanuts

1. Heat oven to 300F.
2. Spray large baking sheet with cooking spray.
3. Cook caramels, butter and water in large saucepan on low heat until caramels are melted, stirring frequently.
4. Combine popcorn and nuts in large bowl.
5. Add caramel mixture; toss to coat.
6. Spread onto prepared baking sheet.
7. Bake 20 min., stirring after 10 min.
8. Spoon onto sheet of waxed paper; cool completely.
9. Break into clusters.

caramels, butter, water, popcorn, peanuts

Taken from www.kraftrecipes.com/recipes/easy-caramel-popcorn-63368.aspx (may not work)