2 (12 oz.) pkgs. thick bacon (can use reg. 16 oz. bacon)
4 cans whole water chestnuts

SAUCE:

1 c. ketchup
1 c. brown sugar

Cut bacon into thirds and drain chestnuts. Wrap chestnuts in bacon and secure with a round toothpick. Place in baking pans and bake for 30 minutes at 450 degrees; flip and bake on other side for another 20 to 30 minutes (check for doneness). Drain off grease and leave in baking pan.

Prepare sauce by placing in small microwave pan. Microwave until mixture is smooth. Pour over chestnuts and then broil for 2 to 3 minutes on each side.