Combine all ingredientes in a 4-quart Dutch oven. Bring to boiling. Reduce heat; cook and stir, uncovered, over medium-low heat for 30 minutes. Remove bay leaves. Refrigerate, covered, up to 2 weeks or freeze for longer storage. Reheat and pass with cooked meat or brush on beef, pork, or poultry during the last 10 minutes of grilling. Makes 8 cups (32, 1/4-cup servings).