Scrub beets clean, then boil for 45 min. or until beets are easily pierced with a knife. Drain beets, reserving 3 Tbsp. of the beet liquid. Allow beets to cool, then peel off skins and roughly chop. Place beets, reserved beet liquid and remaining ingredients in a food processor and process until smooth. Tip: Add olive oil 1 Tbsp. at a time to reach desired consistency. Less oil yields a thick dip, more oil yields a thinner spread.