Cook the bacon inn a large dutch oven over medium-low heat. Continue cooking until bacon is crisp. Stir in the onion, salt and pepper, paprika and continue to cook for 5 minutes. Add the brown sugar and stir to incorporate ingredients for one minute.

Stir into the bacon mixture 3/4 cup bourbon and 1/2 cup chicken stock, stirring continuously while adding the liquids. Simmer the mixture, stirring occasionally, for about 10 minutes until the liquid has evaporated and the mixture has thickened. Stir in the remaining bourbon and 1 cup of stock, cooking again for 10 more minutes while stirring, until that liquid has evaporated too. Finally, add the remaining chicken stock.

Transfer the mixture to a blender or a mini food processor and blend until pureed.

Return the mixture to the same pot and cook for another 10 minutes until it cooks down and is thick. Stir in the butter. Add remaining salt and pepper if you wish. Cool completely; store into an airtight container and keep refrigerated for 1-2 days until ready for use.