In a large bowl, combine cereal, peanuts and sesame seeds.
In a small saucepan over low heat, cook brown sugar, honey and butter, stirring frequently until smooth.
Pour over cereal mixture and toss to coat.
Spread in two ungreased 13-in.x 9-in.x 2-in.baking pans.
Bake at 275° for 45 minutes, stirring every 15 minutes.
Store in an airtight container