Composition and method of preparing reduced fat spreads

A food composition useful as a peanut spread and having a reduced level of fat and/or oil is provided. The composition is a macroscopically homogeneous blend of an peanut component and an aqueous phase associated with a fragmented granular starch hydrolysate. The fragmented granular starch hydrolysate is capable of forming an aqueous dispersion at 20% starch hydrolysate solids having a yield stress of from about 100 to about 1,500 pascals. Also provided is a method of preparing a peanut spread which comprises making a premix of the granular starch hydrolysate and water, fragmenting the granular starch hydrolysate and then blending the resulting particle gel with a peanut component to produce a macroscopically homogeneous blend.