Cook bacon in an oven-proof saucepan on low to medium heat for 4 - 5 minutes until the fat renders out of the bacon. Add onion and cook, stirring 3 - 4 minutes.
Add all other ingredients and stir to combine.
Place lid on the saucepan and cover with foil. Place on middle rack of oven.
Cook for approx. 2 hours or until sauce is thick and fragrant.
Allow to cool for 10 minutes before serving.
Garnish with chopped fresh parsley and serve with crusty bread.