Place popcorn in two large bowls. Mix 1/2 pound nuts into each bowl. In a 5 quart saucepan, combine butter, brown sugar, corn syrup and molasses. Bring to a boil over medium heat; boil and stir for 5 minutes. Pour half of syrup over each bowl of popcorn and stir to coat. Turn coated popcorn into a large roasting pan. Bake at 250 degrees for 1 hour.
Remove from the oven and break apart while warm. Cool. Store in airtight containers.