CHICAGO — Quaker Oats Co., a unit of PepsiCo, Inc., is celebrating the 50th anniversary of Life cereal by offering an opportunity to win a grand prize of $50,000 or one of 50 other prizes.

“Turning 50 is a special milestone for Quaker Life cereal,” said Karen Raviv, director of Quaker ready-to-eat cereals. “Made with whole grain Quaker Oats, Quaker Life cereal has been a favorite family breakfast option for both moms and kids. We’re using the brand’s birthday as an opportunity to show our appreciation and reward families with a chance to win some entertaining gifts.”

As part of the promotion, Quaker will introduce limited edition 50th birthday boxes of Quaker Life cereal across the United States this month. Specially-marked boxes of original, cinnamon and maple and brown sugar varieties include an official game message inside the carton that tells the consumer whether they have won a prize. Prizes range from a home theater system to travel gift cards and digital video cameras.