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Heat 2 tablespoons oil in a large, heavy-based casserole dish over medium-high heat. Cook beef, in batches, for 5 to 6 minutes or until browned. Transfer to a bowl.
Reduce heat to medium. Heat remaining oil in dish. Add brown onion and bacon. Cook, stirring, for 6 minutes or until onion has softened. Add garlic. Cook for 1 minute.
Return beef and juices to pan. Add wine. Bring to the boil. Add stock and tomato paste. Bring to the boil. Reduce heat to low. Simmer, covered, for 1 hour and 15 minutes. Add pickling onions and mushrooms. Cook, covered, for 30 minutes or until meat and onions are tender. Season with salt and pepper. Serve.