Combine all ingredients in a medium saucepan. Bring to a boil, then reduce the heat to a simmer and cook for 20 minutes.
Cool the sauce slightly and then transfer to a blender. Put the lid on the blender and then blend until fully combined and smooth. Transfer to a lidded jar and chill.
Sauce will keep for 1 week in the refidgerator.
Homemade Sweet BBQ Rub: http://heygrillhey.com/best-sweet-rub-grilled-pork-chicken/