Levine Leichtman Capital Partners will have its cake and eat it too, announcing Wednesday its acquisition of Texas bakery chain Nothing Bundt Cakes. The Los Angeles private equity firm gobbled up the 175-location concept for an undisclosed amount. With the transaction, it plans to expand Nothing Bundt Cakes’ footprint and increase system-wide sales. "LLCP's long history of successfully investing in franchise businesses was attractive in selecting our new financial partner,” said Dena Tripp,…