Cook bacon in a skillet over medium heat until crisp; remove and drain on paper towels, reserving 2 tablespoons drippings in skillet. Crumble bacon.
Sauté diced onion in hot bacon drippings in skillet over high heat 5 minutes or until tender. Stir together onion, crumbled bacon, beans, and remaining ingredients in a lightly greased 1-quart baking dish.
Bake beans, uncovered, at 400° for 55 minutes or until sauce is thickened.
Made this side dish for an Independence Day party I hosted. I made it according to directions, but mistimed it and it ended up being done about 45 minutes ahead of the grilled food. I just kept it in the oven on the 'warm' setting and albeit my fear of it potentially being overdone, it turned out wonderful. Everyone loved it and thought it had great flavor.