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Queen Elizabeth's eldest grandson, Peter Phillips, and his wife Autumn have decided to divorce, a spokesman for the couple has revealed in a statement.

The royal couple jointly agreed to separate after informing the Queen and family members last year, their spokesman Gerard Franklin said on Tuesday, according to CNN.

"They had reached the conclusion that this was the best course of action for their two children and ongoing friendship," the statement read. "The decision to divorce and share custody came about after many months of discussions and although sad, is an amicable one."

The couple said their first priority would remain "the continued well-being and upbringing of their wonderful daughters," Savannah, nine, and Isla, seven.

"Both families were naturally sad at the announcement, but fully supportive of Peter and Autumn in the joint decision to co-parent their children," the statement continued.

The couple will both continue to live in Gloucestershire, where they have been settled for a number of years.

The Phillipses are not senior royals but decided to release the statement after press speculation around the marriage.

Peter is the son of Princess Anne -- the Queen and Prince Philip's daughter -- and Mark Phillips. He is the older brother of Olympian Zara Phillips.