The Irish boyband - comprised of Ronan Keating, Shane Lynch, Mikey Graham and Keith Duffy - were always pitted against the 'Back For Good' hitmakers back in the 90s, but they insist they've actually always been really good friends with their rivals and are honoured to have teamed up Gary on the new track.
Mikey said: ''The true dynamics of our relationship with Take That are far different from the ones perceived by the public.
''I was just on holiday with Gary in March - there has never been any malice.''
Shane revealed the 'No Matter What' hitmakers were marketed as an Irish version of Take That, and says he feels privileged to be able to give ''amazing'' Gary and co a nod.
He told OfficialCharts.com: ''We were set up as the Irish Take That, so if anything, it's an honour to pay homage to such an amazing group.
''I've never listened to one Take That record and thought 'that's s**t'. I've always thought: ''that's a f**king great record, lads'.''
Mikey recalled a time before he was in Boyzone when he saw Take That and dreamed of emulating their success one day.
He added: ''I remember one time in Dublin many, many years ago, before [Boyzone] had even started, I went in one particular club and saw them [Take That] in the V.I.P. area.
''I'd seen the guys there and I thought, 'you know what, one day I'm going to be up there as well'.
''To come 25 years later and Gary's a mate of mine - to be on a par to some degree, it's full circle. Who would have thought, you know?''
'Love' is the second single to be taken from the band's final album, 'Thank You & Goodnight', and follows the Ed Sheeran-penned song 'Because'.
The band head out on a farewell tour in January after releasing the record on November 16.
Melting Vinyl brought local talent to the fore as it showcased a set by Tokyo Tea Room on the day of their latest EP release, 'Dream Room'.
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