Pickled beets

2 cans (16oz each) sliced beets
1 1/2 cups sugar
3/4 cup vinegar
2 3" cinnamon sticks
About 3 cups
Drain beets, reserving liquid in small saucepan. Add sugar, vinegar and cinnamon sticks to reserved liquid. Heat to boiling, stirring constantly. Pour over beets; cool. Cover; refrigerate at least 8 hours. To serve, remove beets with slotted spoon.