Walgreens Boots Alliance Inc. agreed to be purchased by Sycamore Partners for $10 billion, the Wall Street Journal reported, turning one of the oldest, most recognizable US drugstore chains into a private company.

After nearly a century as a publicly traded company, drugstore chain Walgreens is going private as part of a roughly $10 billion buyout deal.

Walgreens Boots Alliance says it has agreed to be acquired by the private equity firm Sycamore Partners as the struggling retailer looks to turn itself around after years of losing money.