Preheat oven to 350°.
Drain the beets in a colander over a bowl, reserving juice. Combine the beet juice, sugar, and remaining ingredients in a small saucepan; bring to a boil. Reduce heat; simmer until thick (about 2 minutes). Stir in beets. Place beet mixture in a 1-quart baking dish. Cover and bake at 350° for 35 minutes.