ONCAP forms a joint venture with Griffon Corporation

Griffon Corporation, an American conglomerate, and Venanpri Group, a Canadian company, have formed Veritage Brands through the creation of a joint venture valued at $261 million. The deal closed on June 10, 2026.

Deal Mechanics

The joint venture, Veritage Brands, was established to combine the consumer and professional tool businesses of Venanpri Group’s Venanpri Tools business unit with Griffon Corporation's AMES Companies division. ONCAP has taken a 57% equity interest in the new entity while Griffon holds a 43% stake.

Venanpri's Agrisolutions division will remain wholly owned by Venanpri Group outside of this joint venture arrangement.

Strategic Rationale

The JV aims to create a dominant player in professional and consumer tools, home storage solutions, and lawn and garden products. This move strategically positions the combined entity for growth through leveraging Griffon's market presence and Venanpri Group's innovative product portfolio.

Financial Context

This transaction marks one of the largest deals within the consumer sector in North America this year. The financial synergy from combining these two entities is expected to drive substantial revenue growth over the next five years, with Veritage Brands targeting an annual revenue run rate of approximately $500 million by 2031.

Advisors

Griffon Corporation's financial advisors were Canaccord Genuity LLC and Goldman Sachs & Co. LLC, while the legal team was represented by Torys LLP and Dechert LLP. Venanpri Group did not disclose their financial or legal advisors.

Outlook

The formation of Veritage Brands is anticipated to accelerate growth opportunities for both parent companies in the North American market, as well as internationally through future acquisitions. Griffon Corporation and ONCAP are optimistic about the venture's potential impact on their respective portfolios and financial performance.