1. Heat oven to 350°F (180°C). Line two 9-inch (23 cm) round baking pans with wax paper; grease and flour wax paper.
2. Combine first 4 ingredients in saucepan; bring to boil over medium heat, stirring often. Remove from heat. Combine flour, sugar and baking soda in large bowl. Stir in cocoa mixture until blended. Beat in buttermilk, eggs and vanilla until blended. Pour into pans.
3. Bake 22 to 25 minutes or until wooden pick inserted in center comes out clean. Cool 10 minutes; remove from pans to wire racks. Cool completely.
4. Spread half of PEANUT BUTTER CREAM between layers; spread remaining cream on top of cake. Refrigerate 30 minutes. Drizzle with COCOA GLAZE. Store covered in refrigerator.
Makes 12 servings.
PEANUT BUTTER CREAM: Combine 1/2 cup (125 mL) whipping cream and 1 3/4 cups (300 g) CHIPITS REESE Peanut Butter Chips in small saucepan. Cook over low heat, stirring constantly, until chips melt and mixture is smooth. Cool to room temperature.
Beat 1-1/2 cups (375 mL) whipping cream until stiff. Stir one-third into peanut butter mixture. Fold in remaining whipped cream. Makes 3-1/2 cups (875 mL).
COCOA GLAZE: Melt 2 tbsp (30 mL) butter or margarine in microwave; add 2 tbsp (30 mL) HERSHEY'S Cocoa and 2 tbsp (30 mL) water, stirring constantly, until thickened. Gradually add 1/2 cup (125 mL) powdered sugar, beating with whisk until smooth. Stir in 1/4 tsp (1 mL) vanilla. Drizzle over top of cake, allowing some to run down sides.
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