Preheat oven to 275 degrees F.
In a large Dutch oven, heat oil over medium heat. Saute the red pepper, onion and garlic until softened, about 2 minutes. Add the baked beans and remaining ingredients and bring to a low simmer. Cover the beans and place in the preheated oven. Bake for 45 minutes.
Add all ingredients to a bowl and stir until combined. Keep in an airtight container for up to 6 months.
In a large saucepan, combine all ingredients. Bring mixture to a boil, reduce heat to a simmer. Cook uncovered, stirring frequently, for 1 hour 15 minutes.