Australian supply-chain logistics group Brambles has its eyes on fresh pastures, with the purchase of one of the UK’s largest pallet and container firms.

Brambles says it is planning to expand its specialist container business with the acquisition of UK-based Ferguson Group for around $580 million.

The company is best known for its distinctive blue CHEP brand pallets and containers, and has been a favourite among stock-traders this year.

Ferguson provides over 18,000 containers to the offshore and gas industry for the transport of items including fluids and equipment.

The acquisition may be behind the financial excitement in the company this year, with chief executive Tom Gorman saying the purchase of Ferguson was a “very strong fit”.

“Combined with our presence in the downstream refining sector through CHEP Catalyst & Chemical Containers, Ferguson Group provides a platform for further expansion of our Containers offering in oil and gas,” Mr Gorman said in a statement to the ASX on Tuesday.

The deal is expected to be complete by the end of this month.