JoAnna Garcia of Reba & Trace Ayala Get Engaged

Wednesday June 18, 2008 07:20 PM EDT

Frazer Harrison/Getty

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Justin Timberlake's best friend and business partner, Trace Ayala, is engaged to Reba star JoAnna Garcia, the actress's rep confirms to PEOPLE.

Ayala, 27, Timberlake's friend since their childhoods in Memphis, Tenn., is partners with the singer in New York City's Southern Hospitality restaurant and the William Rast clothing line.

Garcia, 28, Ayala's girlfriend for two years, played Reba McEntire's daughter on the sitcom and stars in this fall's new CW series How to Survive the Filthy Rich.