The Walgreens Boots Alliance Friday said the drug store chain is going private, acquired by private equity company Sycamore Partners in a $23.7 billion deal described as a "definitive agreement."

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.