Walgreens Boots Alliance will be taken private by Sycamore Partners for $10 billion, the buyout firm said on Thursday, closing out nearly a century of trading on public markets for the U.S. pharmacy giant.

Walgreens Boots Alliance says it has agreed to be acquired by private equity firm Sycamore Partners as the struggling retailer looks to turn itself around after years of losing money. Walgreens said Thursday that Sycamore will pay $11.

Walgreens Boots Alliance — whose namesake chain is one of the largest retailers in the U.S. and an iconic brand in the drugstore sector — has reached a deal to be taken private. Why it matters: The company has been struggling to keep up with nimbler retailers,