After months of speculation, Nick Lachey and Vanessa Minnillo have officially separated.

Representatives for the pair released a statement confirming the news, saying that “They have amicably split but remain good friends who still greatly care for one another.”

A source quoted in People Magazine confirmed that the split was on reasonable terms: “It was an amicable break-up. They walk away from it still friends….They still care about each other very much. This is what’s best for both of them.”

Lachey is perhaps best known as being Jessica Simpson’s ex-husband.