The tragic death was revealed through Planter's Youtube channel, which featured actors Matt Walsh and Wesley Snipes.
As the trio enjoyed a drive together, an armadillo suddenly wandered into the middle of the road, causing Mr. Peanut to swerve and catapult the group off a cliff, ejecting them from the car.
The group is then shown literally hanging onto a branch for dear life as it cracks under all of their weight. In order to save his friends, Mr. Peanut made the ultimate sacrifice and let go, plummeting to his death.
Mr. Peanut's funeral will take place on February 2, 2020 during the third quarter of the Superbowl. All fans are encouraged to tune in and/or attend the celebration of his life and legacy.