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.

Walgreens Boots Alliance Inc. announced Thursday it has entered into a definitive agreement to be sold for $10 billion to private equity firm Sycamore Partners, which specializes in retail, consumer and distribution-related investments.

A buyout to take the drugstore chain private would give it more flexibility to make changes to improve its business without worrying about Wall Street’s reaction.