Walgreens Boots Alliance announced on Thursday that it has agreed to a $10 billion deal to be acquired by private equity firm Sycamore Partners and go private. After years of falling sales and rising costs,

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

Sycamore Partners, a New York-based private equity firm, on Thursday agreed to pay $11.45 a share for Walgreens Boots Alliance — the pharmacy chain’s parent company — for a $10 billion