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Preheat oven to 425 degrees F. Thaw puff pastry in the refrigerator for 1-2 hours.
Render in a pan until crispy.
Remove from pan and drain on a paper towel.
Cut onions into slices.
Melt butter in a large skillet.
Add onions. Cook on medium heat, stirring occasionally for approximately 30 minutes to caramelize.
Add the fresh thyme at the end of cooking. Salt and pepper to taste.
Once caramelized, remove from heat and let cool.
Flour a working surface.
Gently roll out puff pastry into a 10"-12" circle then transfer to an ungreased baking sheet.
Spread the caramelized onions onto the puff pastry in an even layer, approximately 1" from the edge of the circle.
Crumble the goat cheese and distribute evenly over the onions.
Sprinkle the bacon over the goat cheese.
Fold the edge of the puff pastry over the edge as you desire.
Bake at 425 for 15-20 minutes or until the edges of the puff pastry are golden brown and the onions/cheese are bubbly.
Cut into wedges and serve.