Leave root and 1 inch of stem on beets; scrub with a brush. Place in a large saucepan; cover with water. Bring to a boil; cover, reduce heat, and simmer 25 minutes or until tender. Drain and rinse with cold water. Drain; peel and cut into 1/4-inch-thick slices.
Melt butter in a large nonstick skillet over medium heat. Add beets, orange rind, and remaining ingredients. Bring to a boil; cook 7 minutes, stirring frequently, until beets are tender and sauce is reduced to 1/2 cup.