In a jug mix the water with the yeast and sugar. Set aside for a few minutes to allow the yeast to activate - after 5-10 minutes there should be a layer of foam on the surface.
In a food mixer or large bowl tip the flour, make a well in the center and add the salt, dried sage and olive oil.
Pour in the water and yeast and the pureed beetroot and knead with a dough hook for 5 minutes or by hand for 10 minutes. Set aside in a non-draughty place to rise for around an hour or until it has doubled in size.
Whilst the bread is rising cook the bacon until crisp. Allow to cool and cut into small pieces and set aside.
Turn the dough onto a floured work surface and roll into a large rectangle. Sprinkle the bacon and cheese over the surface and roll up into a log shape, tucking the ends under.
Transfer to a baking sheet and set aside for 20 minutes to rise for a second time. Preheat the oven to 430F/Gas Mark 7.
Once the bread has finished its second rise, cook in a hot oven for around 25 minutes. If it is done the bread should sound slightly hollow when tapped on the base.
Serve whilst still warm cut into thick slices with plenty of butter.