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.

Shares of Walgreens Boots Alliance have lost about half their value in the past year, as the chain has faced pressure in its retail and pharmacy businesses.

Sycamore Partners, a private equity firm, will buy Walgreens Boots Alliance at $11.45 per share as Walgreens will go private for the first time in decades.