Walgreens Boots Alliance has announced it has entered into a definitive agreement to be acquired by an entity affiliated with Sycamore Partners in a deal valued at $23.7 billion. Sycamore Partners is a private equity firm specializing in retail, consumer and distribution-related investments.

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."

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.