PepsiCo’s stock rose Tuesday, bucking the selloff in the broader stock market, after the beverage and snacks giant announced an agreement to buy Mexican-American foods maker Siete Foods for $1.2 billion a week before earnings are released.

PepsiCo said Tuesday that it’s buying Mexican American food company Siete Foods for $1.2 billion, marking the company’s first food acquisition in roughly five years.

The makers of Pepsi Cola agreed to pay $1.2 billion to obtain Garza Food Ventures dba Siete Family Foods, PepsiCo announced Tuesday.