Kraft Foods Group has remained silent on reports that it is preparing to sell its Breakstone dairy business. 

According to reports, Kraft is seeking a buyer for its Breakstone unit, which manufactures butter and cream cheese. Mexico-based Grupo Lala has been tipped as a potential buyer. 

However, a spokesperson for the company insisted that reports of a sale "were not issued by Kraft", adding the group does not comment on "rumour or speculation".

Kraft Foods Group is the North American grocery unit created following its spin-off from global snacks group Mondelez International at the beginning of this month. The company has indicated it will look to drive growth by investing in its "power brands", which generate around 80% of revenue.