Sycamore Partners is nearing an acquisition of Walgreens Boots Alliance Inc., people with knowledge of the matter said, in a deal that could end the drugstore operator’s tumultuous run as a public company.

The companies are putting the final touches on a transaction that may be announced as soon as this week, sources said.

The private-equity suitor is planning on splitting up Walgreens' U.S. and U.K. pharmacy businesses, as well as its specialty pharmacy unit, the Financial Times reports.