yes but not really
Viz is owned by Shueisha (and as a whole Hitotsubashi Group), and is essentially Shueisha's North American outlet for Shonen Jump content. Actually VIZ was its own company until the ownership was taken over by Shueisha in 2002.
As for One Piece, VIZ releases the bare minimum for One Piece in the form of english translations such as the weekly digital chapters and the tankobons/volumes.
Shueisha on the other hand, is basically the main source of all One Piece related books/mangas/etc albeit all in Japanese. They have so much stuff out such as the One Piece Magazines, Color Walks, and Novels (such as Law or Ace's) that isn't even translated/sold in English by VIZ. Some of the few exceptions by VIZ are some Compendiums of the Color Walks such as
these, and having bought these they are in considerably worse quality (worn out hardcovers, broken strings, etc) than the ones released by
Shueisha.
Considering that One Piece at least in the US isn't even close to being the most popular series in North America, there's almost 0 chance they will translate the One Piece Magazines anytime soon