Hugh Jackmanand wifeDeborra-lee Jackman’s decision to separate was not made without a lot of thought and careful reflection.

While the mutual decision was amicable, a source close to the pair tells PEOPLE that they are “devastated” and that the split is “very hard” for them.

“It was not a snap decision — they took a lot of time and consideration of everything, and they made this decision together,” the source adds. “They are going on separate journeys, but they will always be a family. They’ll always be co-parents and best friends.”

As their relationship begins a new chapter, Hugh, 54, and Deb, 67 — who shareson Oscar, 23, and daughter Ava, 18— there’s no acrimony.

“This has nothing to do with anything other than the fact that they’re on different journeys right now,” says the insider.

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Hugh and Deborra-Lee Jackman at the Tony Awards in New York City on June 10, 2012.Kevin Mazur/WireImage

Hugh Jackman and Deborra-Lee Furness attend the 66th Annual Tony Awards at The Beacon Theatre on June 10, 2012 in New York City

Hugh and Deborra-leeshared the news that they are separatingafter 27 years of marriage in an exclusive statement to PEOPLE on Friday.

“We have been blessed to share almost 3 decades together as husband and wife in a wonderful, loving marriage,” they said. “Our journey now is shifting and we have decided to separate to pursue our individual growth.”

Cindy Ord/MG23/Getty

Hugh Jackman and Deborra-Lee Furness attend The 2023 Met Gala Celebrating “Karl Lagerfeld: A Line Of Beauty” at The Metropolitan Museum of Art on May 01, 2023 in New York City.

The statement continued, “Our family has been and always will be our highest priority. We undertake this next chapter with gratitude, love, and kindness. We greatly appreciate your understanding in respecting our privacy as our family navigates this transition in all of our lives.”

Hugh was spotted on a walk in New York City the day after their split announcement. TheDeadpool 3actor was not seen wearing his wedding ring.

Sparks flew between the costars early on, and as Hugh told PEOPLE in his 2008Sexiest Man Alivecover story, “It was just undeniable. I started planning to propose to her at about three months.”

On their27th wedding anniversarythis past April, theGreatest Showmanstar posted a loving nod to Deborra-lee and their bond on Instagram, sharing in part, “I love you so much. Together we have created a beautiful family. And life.”

“Your laughter, your spirit, generosity, humor, cheekiness, courage and loyalty is an incredible gift to me,” headded in the caption. “I love you with all my heart.”

The pair’s last red-carpet appearance was at theMet Galaon May 1, while in July,they attended the men’s finals at Wimbledon.

source: people.com